There is almost only one big event on the stage of Forex - Coronavirus. How will currencies and commodities respond?
The Bank of England may support the GBP
Information is not investment advice
The Monetary policy committee of the Bank of England will vote on the level of interest rate and release its monetary policy summary on March 21, at 14:00 MT time.
The bank is expected to keep its interest rate unchanged at 0.75%. The main focus of traders will be on the tone of the monetary policy summary. Last time the BOE governor Mark Carney said that the central bank would provide all the necessary support for the stability of the GBP. It helped the GBP to recover. The hawkish comments during this meeting may push the GBP up.
• If the BOE is hawkish, the GBP will rise;
• If the BOE is dovish, the GBP will fall.
The Federal Open Market Committee will publish its meeting minutes on February 19, at 21:00 MT time.
The Royal Bank of New Zealand held the interest rate at 1% today. As a result, the NZD rose by 50 pips!
Coronavirus pushse gold and currencies to where they have not been for years. What next?
The United States will publish its flash manufacturing PMI at 16:45 MT time on February 21.