Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
Will the GBP stay steady?
Information is not investment advice
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
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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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