5:30am (NY Time) BOE Inflation Report N/A
ACTION: GBP/USD or GBP/JPY BUY Hawkish SELL Dovish
This is a quarterly report from BOE on projections of inflation and the economy for the next 2 years. It is a very high impact report and it could affect the short-term to mid-term trend of Sterling.
If BOE is optimistic in its projection and focus on recovery, we should see immediately appreciation of GBP; if the opposite is true, then Sterling will probably drop substantially. We’ll look at market reaction then wait for entry.
Since BOE recently increased its Quantitative Easing program by another 50 Billion Pound, many investors are looking at this report for hints on UK’s economic health condition, and of course its future monetary policy. This report could have the power to decide GBP’s direction in the next 2 weeks or more, depending if we get similar data releases out of UK in the near future. Watch how I trade this report LIVE in my update video.
[flv:http://www.newsprofiteer.com/081209-boeinflation/081209-boeinflation.mp4 480 360]
UPDATE: BOE Inflation was not as negative as most traders were expecting. As a matter of fact, most traders were waiting for an explanation over the increase of the APF program by 50 Billion. Because of the overwhelming sentiment prior to the news, we saw a classic pricing in movement and then profit taking after the news… it was sobering as I quickly picked up 40 pips and predicted about 200+ more pips of movement in my trade room. Everyone made over 100+ pips live trading with me.
Related posts:
- Forex Video & Analysis For UK Retail Sales 8/19/20
- Forex Trade Plan & Video For UK Retail Sales 07/22/10
- UK Retail Sales m/m 11/19/09
- UK MPC Meeting Minutes 08/19/09
- UK Retail Sales m/m 12/17/09
- UK 2nd Quarter Prelim GDP Analysis & Video 07/23/10
- UK Retail Sales m/m 09/17/09
- Forex Analysis UK Retail Sales 06/16/11
- UK Retail Sales m/m 08/20/09
- Forex News Trading UK Retail Sales m/m 05/19/11
{ 4 comments… read them below or add one }
Henry, in your live trade sessions do we get to trade live with you just as if we were right there with you in your recorded videos? And how often? Do you open live trade room for all most all tradable news releases?
i will like to join you in your live trading room as i have been following your news reports for sometime now and am very impressed.
Henry,
How do I get to be a part of the trading room?
Very nice video on BOE statement.
How do I join your live trading room?