Forex News Trading and Currency Training Analysis Video
BOE (Bank of England) will be rendering its interest rate decision today, and it should provide strong volatility in the market if BOE’s final decision is a surprise, here’s the forecast:
7:00am (NY Time) UK Official Bank Rate Forecast 0.50% Previous 0.50%
APF (Asset Purchasing Facility) Forecast 200B Previous 200B
ACTION: GBP/USD BUY 0.75% (Rate) SELL 225B (APF)
Revised GDP q/q, or better known as the 2nd quarterly GDP release, is going to be the focus today. Here is the forecast:
4:30am (NY Time) UK Revised GDP q/q Forecast 1.1% Previous 1.1%
ACTION: GBP/USD BUY 1.4% SELL 0.8%
The Trade Plan
Since this is the second release of the 2nd quarter GDP, we’re not likely to get a huge surprise as most 2nd releases are pretty much inline. However, judging from the expected release of 1.1% and previous release of 1.1% (Prelim GDP on July 26th), we may not get a surprise release after all.
BOE (Bank of England) will be rendering its interest rate decision today, and it should provide strong volatility in the market if BOE’s final decision is a surprise, here’s the forecast:
7:00am (NY Time) UK Offcial Bank Rate Forecast 0.50% Previous 0.50%
ACTION: GBP/USD BUY 0.75%
The Trade Plan
In the unlikely event BOE hikes rate to 0.75%, we’ll buy GBP/USD immediately on a spike trade. Because of the level of this surprise, I think we’ll see a strong trend change for GBP in the next few weeks, so we should BUY and keep a small portion for larger gains…
UK quarterly GDP release is always a 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:
UK Prelim GDP q/q Forecast 0.6% Previous 0.3%
ACTION: (GBP/USD) BUY 0.8% SELL 0.3%
7:00am (NY Time) UK Offcial Bank Rate Decision Forecast 0.50% Previous 0.50%
ACTION: GBP/USD N/A
UK’s BOE, Bank of England’s Monetary Policy Committee (MPC) is once again scheduled to release their interest rate decision today and the expectations are to keep both their official bank rates at 0.50% and APF (Asset Purchasing Facility) unchanged. The important focus as usual today will be the accompanying BOE Statement if they decide to release one, and it is customary that BOE will only release a rate statement if there is a change to either the Interest Rate or the APF.
7:00am (NY Time) UK Offcial Bank Rate Decision Forecast 0.50% Previous 0.50%
ACTION: GBP/USD N/A
UK’s BOE, Bank of England’s Monetary Policy Committee (MPC) is once again scheduled to release their interest rate decision today and the expectations are to keep both their official bank rates at 0.50% and APF (Asset Purchasing Facility) unchanged. The important focus as usual today will be the accompanying BOE Statement if they decide to release one, and it is customary that BOE only releases rate statement if there is a change to either the Interest Rate or APF program.
Revised GDP q/q, or better known as the 2nd quarterly GDP release, is going to be the focus today. With possible better than expected figures scheduled to be released today, market could be looking to BUY GBP ahead of this release… Here is the forecast:
4:30am (NY Time) UK Revised GDP q/q Forecast 0.3% Previous 0.2%
ACTION: GBP/USD BUY 0.6% SELL 0.0%
8:30am (NY Time) CA GDP m/m Forecast 0.1% Previous 0.0% ACTION: USD/CAD SELL 0.4% BUY -0.2% We’ll be focusing on the Canadian GDP month on month release, … [Read More...]
4:30am (NY Time) UK Manufacturing PMI Forecast 54.1 Previous 54.1 ACTION: GBP/USD BUY 56.1 SELL 52.1 Our focus for today will be on the Manufacturing PMI number … [Read More...]
2:15pm (NY Time) US FOMC Rate Decision Forecast 0.25% Previous 0.25% ACTION: USD/JPY BUY 0.50% SELL <0.25% FOMC is going to release its short-term interest rate decision … [Read More...]
We've only got 4 tradable news releases this week and here are the results: Daily Signals 1. Tue July 27, 2010 (9:30pm EST) AU CPI q/q - SELL trade triggered - Dropped 88 pips within the hour. 2. … [Read More...]
10:00am (NY Time) US ISM Non-Manufacturing PMI Forecast 51.6 Previous 50.9 ACTION: USD/JPY BUY 54.0 SELL 49.0 Today we’ll focus once again on the ISM Non-Manufacturing … [Read More...]
Looking at the current market condition, I am seeing most traders along with their liquidities returning this week, which may provide some excellent market conditions as we kick off our own trading this … [Read More...]
8:30am NY Time ECB Chairman Trichet Press Conference ACTION: N/A We’ll be focusing on the ECB (European Central Bank) Chairman Jean-Claude Trichet press conference today as he releases an official … [Read More...]
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