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.

Free Trading Guides
EUR/USD
Bullish
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
GBP/USD
Mixed
USD/JPY
Mixed
Gold
Bullish
Oil - US Crude
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
Bitcoin
Mixed
More View more
Real Time News
  • RT @GlobalTimesBiz: After more than two weeks of #China’s efforts to resume business activities, only 30 percent of migrant workers has ret…
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2020? Find out from @JohnKicklighter here:https://t.co/1oeXWEsJkb https://t.co/c5YVgs5YKD
  • While Sino-US trade jitters are temporarily abating, China-Swedish trade tensions are rising as a part of a political contagion of growing economic hostilities between nations across the world. Get your market update from @ZabelinDimitri here:https://t.co/F1fVoyzoz5 https://t.co/z49NzgZrXd
  • RT @malkudsi: Natural Gas Eyes Pushing Higher as Support Holds - Nat Gas Technical Analysis More details in the link below: https://t.co/HG…
  • As prices dance around on charts, traders are often looking for reasons to explain price movements; however, the underlying source of price movement boils down to the relationship between supply and demand. Learn more about the forces of S&D on forex here: https://t.co/8LfkLXbj2W https://t.co/swcuwAMGAk
  • How can traders avoid #FOMO in trading? Start by implementing a well-heeled plan taking only four hours per week. Get your insight from @JStanleyFX here: https://t.co/vwUShQPc27 #tradingstyle https://t.co/4adyTWvQ22
  • What are the Market cycles? How are #currencies impacted in these cycles? How can these cycles impact #forextrading patterns? Find out here: https://t.co/ckr2fUOWqW https://t.co/gLJGj1FAOC
  • Central bank independence has several advantages and disadvantages. Find out what they are in-depth with @MartinSEssex here: https://t.co/wVFXbbTxf1 https://t.co/J0MMkVmCUu
  • Get your stock market basics right - what is the stock market and how does stock trading work? Find out here: https://t.co/JfAJLAtlsY https://t.co/ZfPUxHWeiG
  • The Mexican economy contracted for the first time in almost 10 years in 2019, but growth is expected to pick up in 2020 according to its finance minister. Get your $USDMXN market update from @HathornSabin here: https://t.co/gupJdU7WYT https://t.co/mMN8LFb5i5
British Pound Rally Poised To Gather Pace Ahead of BoE Rate Decision

British Pound Rally Poised To Gather Pace Ahead of BoE Rate Decision

2010-07-02 21:52:00
David Song, Currency Strategist
Share:

A Bloomberg News survey shows all of the 35 economists polled forecast the BoE to maintain its current policy this month, while investors are pricing a 3% chance for a 25bp rate hike, but the MPC may refrain from releasing a policy statement, which could produce mute price action as the central bank is scheduled to release the meeting minutes on July 21. Nevertheless, the BoE maintained a cautious outlook for the region for the region as demands for mortgages unexpectedly declined in the second-quarter, and went onto say that credit availability is likely to weaken over the next three-months as the banking sector remains under pressure. As a result, central bank board member David Miles argued the MPC should maintain a loose stance for the time being and gradually tighten monetary policy as he expects to see “reasonable growth” going forward. However, mounting price pressures could lead Andrew Sentance to dissent against the majority for a second-month as inflation holds above the upper limit of 3%, and the division in the MPC could spark speculation for a rate hike next year as the central bank maintains its dual mandate to ensure price stability while promoting full-employment.

Nevertheless, the economic docket is expected to show industrial output expanding 0.4% in May after unexpectedly contracting 0.4% in the previous month, with manufacturing advancing 0.3%, and the rise in production could spur a bullish reaction in the British Pound as the outlook for future growth improves. In addition, producer prices are projected to grow at an annualized pace of 5.7% for the second consecutive month in June, while input prices are anticipated to fall back to 10.2% from 11.2% in the previous month, and the stickiness in prices could stoke a shift in the interest rate outlook as inflation remains well above the central bank’s 2% target. - DS

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

DISCLOSURES

News & Analysis at your fingertips.