Frank Walbaum
FX Strategies.Asia
Important news for the day
- Thu, 19th, 13:00 CET UK BoE interest rate decision
Bank of England
Traders will focus on the interest rate decision of the Bank of England today. Despite no change being expected the rate statement might offer further volatility for financial markets. Last month, the central bank had already reduced rates. This was the first time in about four years and another rate cut might follow in November. Inventors might hence focus on the outlook of governor Andrew Bailey. In focus will also be the inflation and growth projections. This might give more insights for the tightening policy moving forward. In the meantime the Pound has been gearing up steam against the Dollar.
Market talk
Weakness of the Dollar continues to drive the positive general market sentiment. This causes most currencies to rise against the Greenback, whereas the JPY is lagging behind for now. Stock markets are nearing their recent all- time- highs again and Oil and Silver keep pushing higher. This might be due to the fact that investors believe that the outlook for the economy remains positive. Gold on the other hand is lagging behind slightly as the positive risk sentiment causes investors to prefer risky assets. Bitcoin looks also set to run higher. ETH is also rising, yet with less momentum. The interest rate decision in the UK might be the key volatile news event today.
Tendencies in the markets
- Equities positive, USD weak, cryptos positive, oil higher, Silver higher, Gold sideways, JPY sideways
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