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Breaking news

Bank of England Tapers QE Purchases, leaves Bank Rate & APF Target Unchanged

Real Time News
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.61% 🇨🇭CHF: 0.53% 🇪🇺EUR: 0.50% 🇯🇵JPY: 0.12% 🇳🇿NZD: -0.02% 🇬🇧GBP: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/G1tbmnQXlH
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.19% Wall Street: 0.12% France 40: 0.02% Germany 30: -0.16% US 500: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/7TV6gNkFhX
  • The Dollar's drop was not as clean against all of its major counterparts, but the $DXY's trade weighting translated EURUSD's rally into a bearish wedge break here. That said, this still qualifies as an inverse head-and-shoulders pattern https://t.co/FNg92kAOfP
  • IMF says downside risks are materializing in India $USDINR #NIFTY50
  • Dallas Fed's Kaplan: -Fed likely to achieve 'substantial progress' metric faster than expected -There are side effects from bond purchases -Still supports bond purchases but economy has improved faster than anticipated -Fed to reach full jobs, price goals some time in 2022
  • Key break higher for gold this morning as it pushes above $1800 for the first time since February https://t.co/Ih2e5I7ddS
  • Hey traders! Risk trends continue to struggle for clarity of direction. Get your Thursday market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/TYFzIJxlvR
  • This bull flag pattern on $EURUSD played out as the textbooks usually project. The break to the upside is perhaps the path of least resistance - at least until we get back to the 1.2150 high, if we get there https://t.co/h5wOcHftl2
  • Dallas Fed's Kaplan (non-voter) -Wants to see taper talks start sooner rather than later
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 2.86% Gold: 1.39% Oil - US Crude: -1.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Q8RUbC8LNP
Webinar: UK Manufacturing and BOE/TNS Inflation Expectations

Webinar: UK Manufacturing and BOE/TNS Inflation Expectations

Nick Cawley, Strategist

Ahead of this webinar, the EU said that sufficient progress had been made on Brexit talks to move forward to the second stage, including future trade agreements. Sterling grabbed a small bid, while the FTSE remained calm post-announcement. However the underlying health of the UK economy is still the Bank of England’s main focus and with the UK service sector currently floundering, a strong manufacturing base is needed to help the economy grow. And the latest BOE/TNS inflation expectations will also give markets a clue to the central bank’s future thinking on monetary policy.

Other topics covered today include –

  • Brexit negotiations move on to stage two with trade talks on the docket.
  • Industrial and manufacturing data remains important as the UK economy continues to lag its peers.
  • Sterling looks likely to push further ahead but Friday’s US non-farm payroll data and next week’s FOMC meeting will steer GBP/USD in the near-term.

If you missed this webinar and would like to know about future events, see the full DailyFX webinar schedule here.

--- Written by Nick Cawley, Analyst

To contact Nick, email him at nicholas.cawley@ig.com

Follow Nick on Twitter @nickcawley1

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

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