Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
What does the Bank of England have to say?
Information is not investment advice
The Bank of England’s Monetary Policy Summary will be announced on Thursday at 14:00 MT time.
Instruments to trade: EUR/GBP, GBP/JPY, GBP/CHF, GBP/CAD
The Bank of England lowered its interest rate by 50 bps on March 11, making it 0.25%. Coupled with the quantitative ease package, this appears to be a significant stimulus to support the British economy, which is now under the pressure of several burdens such as the virus and Brexit consequences. Amid all this, the position of the GBP generally doesn’t look too bright. Fundamentally, the market is not really impressed with the government’s reaction to the virus. Its main impression is that the UK’s lawmakers are lagging behind compared to their European colleagues who went all-in with maximum restrictions to contain the virus. That’s the main factor pushing investors away from the GBP. Possibly, the Bank of England will bring some reassuring notes from the financial side on Thursday – that would help the GBP stay afloat.
- If the bank’s mood is hawkish, the GBP appreciates;
- If the bank’s mood is dovish, the GBP drops.
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Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
The US Labor Market And Real Estate Market Are In Focus This Week
Labor Market and Real Estate Market data was published yesterday. Markets are slowing down, so the economy is in recession. Today the traders should pay attention to the Retail sales in Canada.
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