Mail Mail Call Call Chat

Noticias

All Attention to The Bank Of England

Archivo de Noticas

2011 2012 2013 2014 2015 2016

The pound fell on Wednesday after achieving strong gains over two days as the Bank of England could cut interest rates today. GBP strongly recovered in the last two trading sessions, positively affected by Theresa May's coronation.

The Bank of England began a two-day monetary policy meeting on Wednesday. U.K. voted to leave the European Union in a referendum last month, Mark Carney has already signaled the central bank’s action to prop up the Britain’s economy.

The BoE is likely to slash its benchmark interest rate by 25 basis points (bps) to 0.25%; on the other hand, it could expand the size of its asset purchase program at 375 billion. From a technical point of view, the cable could touch $1.30 once again, if the BoE adopted strong actions to prevent the economy from slipping into recession.

The U.S. dollar index fell by 28 pips and traded at 96.28.

USD declined by 0.5% vs. Japanese Yen and traded at ¥104.

Gold settled during yesterday’s trading session and traded at $1,340, as markets awaited stimulus from the UK’s policy makers. The BoE’s decisions could push the yellow metal to touch $1,360.  

Oil prices declined once again after the U.S. reported a smaller-than-expected crude inventory draw for last week. U.S. cured traded below $45 and could decline further by the end of the week.

The most important economic events:

  • GBP Bank of England Rate Decision (JUL 14): (GMT 13:00) – Important – Forecast (0.25%) – Previous (0.50%).
  • GBP BOE Asset Purchase Target (JUL): (GMT 13:00) – Important – Forecast (375b) – Previous (375b).
  • USD Initial Jobless Claims (JUL 9): (GMT 14:30) – Medium – Forecast (265k) – Previous (254k).
  • USD Continuing Claims (JUL 2): (GMT 14:30) – Medium – Forecast (2140k) – Previous (2124k).

Disclaimer
The prices and news mentioned in this outlook are absolutely no guarantee of future market performance and do not represent the view of ICM Capital Limited. Financial markets can move in either direction causing profits to be made or complete losses to be incurred by the trader. Each trader must decide for themselves what their risk appetite is and ensure that correct risk management procedures are in place before placing any trades.

Financie su cuenta

Operar Divisas o CFD´s involucra un alto nivel de riesgo para su capital y puede resultar en pérdidas que exceden su depósito. CFDs y Spot FX, son productos con apalancamiento. Operar CFD´s o Spot Fx conlleva un alto riesgo para su capital y puede resultar en pérdidas que excedan sus depósitos. Usted no debería comprometerse con este tipo de inversión a menos que usted entienda la naturaleza de las Transacciones que usted está tomando y del verdadero alcance de su exposición para el riesgo de las perdidas. Sus ganancias y pérdidas variarán de acuerdo al grado de las fluctuaciones en el precio de los mercados subyacentes en la cual está basada la operación.