MPC Meeting Minutes is scheduled to be released today and since it is customary for BOE (Bank of England) not to release a statement along with its interest rate decision (2 weeks ago) where there were no changes in either rate decision and APF (Asset Purchasing Facility, UK’s quantitative easing program), today will be the first time to actually get a glimpse into what actually took place during this meeting, here is the forecast:
4:30am NY Time UK MPC Meeting Minutes Forecast 0-0-9 Previous 0-0-9
ACTION: GBP/USD N/A
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UK quarterly GDP release is always an high impact report. With this being the Prelim release, or the first release of three, we are likely to see more market participation. Here is the forecast number:
4:30am (NY Time) UK GDP q/q Forecast 0.4% Previous 0.4%
ACTION: (GBP/USD) BUY 0.7% SELL 0.1%
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We’ll be looking at the MPC Meeting Minutes today and since it is customary for BOE (Bank of England) not to release a statement along with its interest rate decision (2 weeks ago) if there was no change in both rate decision and APF (Asset Purchasing Facility, UK’s quantitative easing program), today will be the first time to actually get a glimpse into what actually took place during this meeting, here is the forecast:
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5:30am NY Time UK MPC Meeting Minutes Forecast 0-0-9 Previous 0-0-9
ACTION: GBP/USD N/A
MPC, Monetary Policy Committee, from Bank of England (BOE) will be releasing their meeting minutes on the Rate Decision meeting held two weeks ago along with the actual vote count over the rate decision and the Asset Purchasing Facility program. If you recall, MPC once again left both intereste rate and APF unchanged, and immediate market reaction was to sell off GBP… (although this reaction could also be attributed to Trichet’s Press Conference, but GBP was already weak at this moment.)
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4:30am NY Time UK MPC Meeting Minutes Forecast 0-0-9 Previous 0-0-9
ACTION: GBP/USD N/A
MPC, Monetary Policy Committee, from Bank of England (BOE) is releasing their meeting minutes over the Rate Decision meeting held about two weeks ago along with the actual vote count over the rate decision and the Asset Purchasing Facility program. If you recall, MPC decided leave both interested rate and APF unchanged and they are undecided on whether or not the APF (quantitative easing program) should expire or extended for the time being. But without a concrete answer on the APF program, market took that as a bearish message and sold off GBP.
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4:30am (NY Time) UK GDP q/q Forecast 0.4% Previous -0.2%
ACTION: (GBP/USD) BUY 0.7% SELL 0.0%
We’ll be trading the much anticipated UK Prelim GDP q/q for Q4 2009. As we know, GDP is defined as “the market value of all final goods and services produced within a country in a given period of time. It is also considered the sum of value added at every stage of production of all final goods and services produced within a country in a given period of time.” GDP is the basically direct measure of the economy’s health, and a stronger GDP means that the central bank will more likely to raise interest to curb inflation.
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4:30am NY Time UK MPC Meeting Minutes Forecast 0-0-9 Previous 0-0-9
ACTION: GBP/USD N/A
MPC, Monetary Policy Committee, from Bank of England (BOE) will be releasing their meeting minutes over the Rate Decision meeting held 2 weeks ago along with the actual vote count over the rate decision and the APF program. If you recall, MPC decided leave both interested rate and APF unchanged but BOE Official Sentance was particularly bullish during the last week and brought about expectations of the end of QE (Quantitative Easing) program. This action provided an immediate short-term bullish rally for the British Pound as traders and speculators both are expecting a much more bullish stance from BOE.
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Forex News Trading US Advanced GDP 01/27/12 Here is the forecast for the US Advanced GDP q/q :
8:30am (NY Time) US Advance GDP q/q
Forecast 3.0% Previous 1.8%
ACTION: SELL ... (2158)
5:30am NY Time UK MPC Meeting Minutes Forecast 0-0-9 Previous 0-0-9
