Main Market Trends on September 23
The Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!
Will the GBP get stronger on BOE’s policy?
BOE releases the monetary policy meeting minutes on Thursday at 14:00 MT time.
Instruments to trade: EUR/GBP, GBP/USD, GBP/JPY, GBP/CHF
The last meeting of the Bank of England left the interest rate at 0.1% and the bond-buying program at 645 billion pounds, and that was a month ago. Since then, on the one hand, the British economy managed to make certain progress towards recovery, but on the other hand, things don’t seem to get less complicated. It may be even the opposite, with the current recession recognized as the worst in decades, and Brexit pressing on the GBP with the inevitability of timelines. Details of the monetary policy meeting may reveal more information which is a necessary fuel for the GBP to get through the hardships it is in now, and that we will see on Thursday.
- If the minutes give an optimistic economic outlook, the GBP will gain value.
- Otherwise, it will fall.
Similar
Big Event for GBP: Bank of England’s Statement
The Bank of England will hold a meeting on Thursday at 14:00 MT time (GMT+3).
Strong US Retail Sales Pressed Gold
The US showed strong retail sales for August despite the spread of the Delta virus strain. As a result, the US dollar rocketed and gold dropped by 2286 points in half an hour after the release.
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Will USD Stop Falling Today? Market Wrap
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Major Event Alert: Canadian Retail Sales
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
Weekly US employment: a chance for the USD
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
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