On Thursday February 7th, at 12:00pm U.K. time, the U.K. BoE will reveal the latest base interest decision, taken by the central bank’s monetary policy committee (MPC). The overwhelming forecast, from news agencies such as Reuters and Bloomberg, after they’ve polled their panel of economists, is for a hold of the base rate at 0.75%, […]
During the overnight Sydney trading session, the RBA (Reserve Bank of Australia) announced that the key interest rate, the cash rate, would be held at 1.5%, keeping the borrowing rate at a record low, for a record period of thirty months. The statement accompanying the decision was less dovish than expected, therefore the Aussie dollar
In a relatively quiet day for medium to high impact news releases on Monday February 4th, the data that was published missed expectations and created doubts regarding the underlying strength of both the USA and U.K. economies. In the London trading session, the latest IHS Markit PMI for construction came in at 50.6, missing the
FX traders eventually learn that the events listed on the economic calendar, have the power to move the FX markets. Whatever trading strategy and overall method you develop, perhaps by using some of the most popular technical indicators available, novice FX traders will quickly observe that a surprising data release (missing or beating the forecast),
On Tuesday February 5th at 3:30am U.K. time, the RBA (Reserve Bank of Australia) will announce its latest decision, regarding the key interest rate for the Australian economy. Referred to as the “cash rate” in Australia, the forecast, from the economists polled by Reuters and Bloomberg, is for the rate to remain unchanged at the
The Australian central bank is forecast to maintain the current interest rate at 1.5%. Read More »
The leading U.K. index the FTSE 100, breached the critical psyche level and handle of 7,000 during the early part of the London session to reach 7,040, a level not seen since early December 2018. During 2018 the index threatened to break through the 8,000 level for the first time in its history, after reaching
Despite the latest NFP numbers beating the Reuters forecast of 165K (by some distance) on Friday Feb 1st, the U.S. dollar failed to rise significantly, when the figure of 304K jobs created in January was published. Beating the forecast has to be kept in context; regarding the previous December count being revised down substantially, whilst
FX traders constantly receive advice regarding professionalism and discipline, in relation to trading and how these two factors can impact on your success. Retail FX traders will receive advice over the type of FX trading account they should open and which brokers they should trade with. For example, trading with an ECN broker, who uses
As a consequence of the: trade wars, tariffs and sanctions with the USA, China’s manufacturing base has suffered a blow, resulting in the sentiment amongst the purchase managers in Chinese manufacturing falling. The PMI missed the Reuters forecast of 49.7, by coming in at 48.3, close to a three year low. Any PMI reading below
Sterling made significant gains versus several of its main peers during the early weeks of January, as FX market optimism developed, that the U.K. would avoid a no deal, hard Brexit. However, that optimism was tempered after Tuesday’s vote in the House of Commons. A vote that has emboldened the Tory govt. to approach the
