News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Bearish
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Going live for this week's webinar in 5 minutes, talking updated tech levels on the major indices, gold and crude as well as a recap of $AMZN Prime Day and its impact on the stock Join here - https://t.co/BY5KNZL8nf https://t.co/lVUKDPMMkA
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.42% 🇳🇿NZD: 0.39% 🇬🇧GBP: 0.18% 🇨🇦CAD: 0.17% 🇪🇺EUR: 0.10% 🇯🇵JPY: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/r7HMBxWAon
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.14% US 500: 0.08% Wall Street: -0.08% France 40: -0.60% Germany 30: -0.75% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/aJA5hMmy6P
  • Heads Up:🇺🇸 Fed Bostic Speech due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-06-23
  • $EURUSD moving in for a resistance test https://t.co/IVDgKspjaf https://t.co/rhnzdAwiEI
  • AUD/USD bounces back from FOMC selloff. Powell returns to bearish rhetoric after markets react to hawkish FOMC. Get your $AUDUSD market update from @HathornSabin here:https://t.co/hYD0jSbkNx https://t.co/9FUCS7HjbN
  • $GBPUSD back at 1.4000 https://t.co/sLPxGkWs7z
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 1.62% Oil - US Crude: 1.30% Gold: 0.78% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xs21aRt2wV
  • #Gold Price Outlook: Gold Plunges into Critical Support- $XAUUSD Levels - https://t.co/1j4Xqz2FG8 https://t.co/WZkDyweKeT
  • 🇺🇸 New Home Sales MoM (MAY) Actual: -5.9% Previous: -7.8% https://www.dailyfx.com/economic-calendar#2021-06-23
Pound May Find Little Direction in Bank of England Rate Decision

Pound May Find Little Direction in Bank of England Rate Decision

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Bank of England Rate Decision May Be a Non-Event for the British Pound
  • US Dollar Gains as Policy Outlook Firms After March Fed Meeting Minutes
  • See Economic Releases Directly on Your Charts with the DailyFX News App

A monetary policy announcement from the Bank of England headlines the economic calendar in European trading hours. Governor Mark Carney and company are widely expected to keep rates unchanged. Indeed, futures markets price in no change in policy until the first quarter of next year.

This makes sense. UK economic news-flow has disappointed relative to forecasts over recent months, core inflation remains subdued and wage growth has failed to meaningfully accelerate despite the lowest unemployment rate in over six years.

The BOE does not release an explanatory statement at meetings where no policy change was undertaken. That means investors will probably have to wait for the release of minutes from the sit-down to get a glimpse at what actually transpired. This means the announcement may amount to a non-event for the British Pound.

The US Dollar narrowly outperformed in overnight trade, rising against most of its leading counterparts. The move appeared to be a mirror-image of price action in 2-year Treasury bond futures, seemingly pointing to firming front-end yield expectations as the catalyst behind strength in the greenback following the publication of minutes from the March Fed meeting earlier in the day.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

22:00

NZD

ANZ Truckometer Heavy (MoM) (MAR)

-0.4%

-

-0.4%

23:30

AUD

AiG Perf of Construction Index (MAR)

50.1

-

43.9

2:00

JPY

Tokyo Avg Office Vacancies (%) (MAR)

5.30

-

5.31

European Session

GMT

CCY

EVENT

EXP/ACT

PREV

IMPACT

6:00

EUR

German Industrial Production (MoM) (FEB)

0.2% (A)

-0.4%

Medium

6:00

EUR

German Industrial Production (YoY) (FEB)

-0.3% (A)

0.0%

Medium

6:00

EUR

German Trade Balance (FEB)

19.2B (A)

15.9B

Medium

6:00

EUR

German Current Account Balance (FEB)

16.6B (A)

15.9B

Medium

6:00

EUR

German Exports SA (MoM) (FEB)

1.5% (A)

-2.1%

Medium

6:00

EUR

German Imports SA (MoM) (FEB)

1.8% (A)

-0.2%

Medium

6:00

JPY

Machine Tool Orders (YoY) (MAR P)

14.6% (A)

28.9%

Low

6:30

AUD

Foreign Reserves (A$) (MAR)

-

64.3B

Low

7:00

GBP

Halifax House Prices (MoM) (MAR)

0.1%

-0.3%

Low

7:00

GBP

Halifax House Price 3Mths/Year (MAR)

8.2%

8.3%

Low

8:30

GBP

Visible Trade Balance (£/Mn) (FEB)

-9000

-8412

Medium

8:30

GBP

Trade Balance Non EU (£/Mn) (FEB)

-2000

-1745

Medium

8:30

GBP

Trade Balance (£/Mn) (FEB)

-1500

-616

Medium

11:00

GBP

BOE Asset Purchase Target (APR)

375B

375B

High

11:00

GBP

Bank of England Bank Rate

0.50%

0.50%

High

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.0563

1.0687

1.0734

1.0811

1.0858

1.0935

1.1059

GBPUSD

1.4552

1.4717

1.4792

1.4882

1.4957

1.5047

1.5212

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES