The Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
Will the GBP stay steady?
What will happen?
Bank of England announces the rate and the monetary policy report on March 18, at 14:00 MT time.
The rate will most probably be kept steady at the record low of 0.1%. In the meantime, the last session indicated that the Bank may soon start preparing for a negative rate closer to the end of the year. Also, they will shed light on the economic recovery in the UK in the context of the post-Brexit environment, gradual reopening, and new strains of the virus that cloud the perspectives of getting back to normal.
How to trade the BOE rate?
As with other similar announcements when no actual rate change is expected, you look into the subtler messages of the Bank’s officials. Generally, if they share a brighter outlook, the national currency gets stronger. Otherwise, a weaker tone puts pressure on it.
- If the BOE is optimistic about the recovery dynamics, the GBP may be boosted;
- If the BOE shares a dull outlook, the GBP may fall.
Instruments to trade: GBP/USD, EUR/GBP, GBP/CHF, GBP/CAD
Coinbase Global Inc., the leading cryptocurrency exchange in the US, will go public on the Nasdaq index on April 14!
The American inflation rate is announced on Tuesday at 15:30 MT. It’s an important event for traders as it will impact hugely currency pairs with the USD.
In this article, you'll find the latest news and tech analysis of EUR/USD, gold, and GBP/USD!