Today traders await the US inflation data to be out at 15:30 MT. Jump in to get fresh trade ideas for today!
Will the Bank of England make the GBP stronger?
The Bank of England will release its monetary policy summary on February 7 at 14:00 MT time.
The bank will hold its interest rate unchanged at 0.75%. We anticipate the Bank of England to provide the comments on the possible rate hikes in 2019. Last time, the BOE mentioned the Brexit uncertainty as the key problem for the UK economy and lowered the economic growth and CPI projections for the fourth quarter of 2018. As a result, the GBP fell. Let’s see if this time the central bank succeeds to support the British currency.
• If the BOE is confident, the GBP will rise;
• If the BOE is unconfident, the GBP will fall.
US retail sales will be out on Thursday, April 15, at 15:30 MT. It is a significant release for traders as it will impact the US dollar.
As the earnings season kicks in, JPMorgan is the first to impress us with the better-than-expected data!
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.