4:30am UK MPC Meeting Minutes Forecast 0-0-9 Previous 0-0-9
ACTION: (GBP/USD) Depending on Market Condition
Bank of England Monetary Policy Committee will issue detailed minutes over the interest rate decision 2 weeks ago, along with vote count and other issues discussed in the meeting. This is usually a very high impact news event as traders look for clues of BOE’s future monetary policy direction.
Due to the current market condition and the low level of the official rate, it is widely agreed that the vote count will remain at 0-0-9, or unanimous vote on the unchanged verdict 2 weeks ago from all MPC members. But the market may react to other issues discussed during the MPC meeting such as the stimulus package and/or any indications or plans on the exit strategy over the recent aggressive interest rate cuts and other fiscal measures.
I’ll be gauging market reaction immediately after the release, if I see an overwhelming sentiment pushing Sterling in one direction, I’ll jump in to the market with the market trend.
UPDATE: Market reacted with a renewed sense of risk appetite immediately after the MPC Minutes, however the movement didn’t have enough momentum to push the market. Watch the video below as I explain my trading decision and my live entry.
[flv:http://www.newsprofiteer.com/072209-ukmpc/072209-ukmpc.mp4 480 360]
Related posts:
- UK MPC Meeting Minutes 08/19/09
- Australia Monetary Policy Meeting Minutes 10/19/09
- BOE MPC Official Bank Rate Decision 10/08/09
- Forex News Trading UK BOE Interest Rate 09/08/11
- UK BOE MPC Official Bank Rate Decision 11/05/09
- UK BOE Official Bank Rate Decision 09/10/09
- US FOMC Meeting Minutes 10/14/09
- BOE Interest Rate Decision – Forex News Trading Plan 11/04/10
- Forex News Trading UK BOE Interest Rate Decision 06/909/11
- US FOMC Meeting Minutes 09/02/09
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