This Wednesday will be heaven for day traders. A considerable number of events will make the market volatile. Don't miss it!
Will the pound get a boost?
BOE announces its interest rate on Thursday, at 14:00 MT time.
Instruments to trade: EUR/GBP, GBP/USD, GBP/CAD, GBP/CHF
The UK is passing through one of its worst economic periods in decades. The downturn caused by the virus doesn’t get alleviated by the finally-done Brexit. Observers report that many companies are leaving London in search of a more comfortable business environment in the EU. This makes the UK economy more vulnerable from the international side while it’s struggling to keep going domestically. The last time BOE Board was voting, it decided unanimously to keep the rate steady at 0.1% - a record low. It will likely stay there as far as we can see so far, so we will be largely looking into the future impressions of the BOE in its monetary policy report rather than a rate change.
- If BOE is optimistic on the outlook, the GBP will be boosted.
- If BOE is not too optimistic, the GBP may drop.
The G20 summit and the US PPI release gave us a lot of volatility to trade on. Luckily, today’s markets may be even more volatile with new vital releases and geopolitical decisions. The daily news report will surely help you!
Before Joe Biden sat face-to-face with Xi Jinping on Monday night at a seaside resort in Bali, US officials played down hopes for tangible progress. The outcome easily exceeded those low expectations.
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Hello, dear traders! We hope you have a great day! Let’s see what news is worth following today! Market closing US stock exchanges will be closed due to the Thanksgiving holiday…
Today, two events will shake the US dollar. First, at 16:45 GMT+2, Markit, a statistical company, will release the US Flash Services PMI. Moreover, at 21:00 GMT+2, the Federal Reserve will release its meeting minutes.