IronFX Daily Commentary by Charalambos Pissouros | 04/08/2016
August 4, 2016 8:43 am
BoE’s “Super Thursday”: Is it time for the big guns? • Super Thursday! Alongside the rate decision and minutes, we also get the Inflation Report with updated economic forecasts and a press conference by Gov. Carney. • The BoE is widely expected to take action. Market pricing suggests a 98% probability for a 25 bps rate cut. • If the Bank only cuts rates by 25 bps, this could disappoint investors who expect more. This could cause a relief bounce in GBP. • In order for GBP to weaken materially, the Bank has to deliver measures over and above what is currently expected. • A fresh dose of QE and a clear easing bias could do the trick (in addition to a rate cut).
Today: • US: Factory orders for Jun. and initial jobless claims for the week end. Jul. 29th. • Speakers: Besides Governor Carney, Dallas Fed President Robert Kaplan speaks.
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BoE’s “Super Thursday”: Is it time for the big guns?
• Super Thursday! Alongside the rate decision and minutes, we also get the Inflation Report with updated economic forecasts and a press conference by Gov. Carney.
• The BoE is widely expected to take action. Market pricing suggests a 98% probability for a 25 bps rate cut.
• If the Bank only cuts rates by 25 bps, this could disappoint investors who expect more. This could cause a relief bounce in GBP.
• In order for GBP to weaken materially, the Bank has to deliver measures over and above what is currently expected.
• A fresh dose of QE and a clear easing bias could do the trick (in addition to a rate cut).
Today:
• US: Factory orders for Jun. and initial jobless claims for the week end. Jul. 29th.
• Speakers: Besides Governor Carney, Dallas Fed President Robert Kaplan speaks.
Join us for more technical and fundamental analysis: http://www.ironfx.com
To get the latest Forex trading news you should:
• Download the IronFX Research app: http://goo.gl/jhQIxO
• Like us on Facebook: https://www.facebook.com/IronFX
• Follow us on Instagram: https://www.instagram.com/ironfx
• Follow us on LinkedIn: https://goo.gl/wSEbPN
• Follow us on Twitter: https://twitter.com/IronFXGlobal
• Circle us on Google+: https://www.google.com/+Ironfxglobal
• Subscribe to our Channel: http://bit.ly/1foFmCU
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