GBPUSD Slumps As BoE Votes 6-2 To Hold Policy Unchanged
The Bank of England has left interest rates unchanged with only two of its MPC members voting in favour of a hike this month.
England
GBPUSD Could Drop Below 1.26 If BoE Is Dovish
The Bank of England’s Monetary Policy Committee is almost certain to keep interest rates unchanged today despite inflation rising well above its 2% target.
Currency Carry Trade
We had a subscriber ask about any suggestions where to look for possible currency ETFs action. Interest rates at record rates not only in the U.S. but globally as well. Add into the mix huge amount of monetary easing like QE3 from U.S. Federal Reserve and central banks around the globe like Japan, Australia and England just to mention a few has seem have broken the system.
Australian Dollar and British Pound Outperform on PBoC, BoE
After yesterday’s massive rally – in fact the biggest rally since December by the Australian Dollar and the Dow Jones Industrial Average since December 20, 2011 – it would appear that all global issues have been resolved.
Breaking News – England Rate Decision
Breaking News England Announces Rate Decision
British Pound Worst Performer Ahead of Bank of England Decision
The British Pound tumbled near year-to-date lows and took the dubious honor of worst-performing major currency on the week, falling almost four percent against the surging Japanese Yen. Disappointing UK PMI Manufacturing survey numbers capped a difficult week for the British Pound, and indeed the stage is set for further declines into an important week ahead.
NZ Dollar Gains on China Growth Prospects, G8 Summit Keeps Euro Low
The US Dollar (ticker: USDOLLAR) traded lower against the Australian Dollar and other high-risk counterparts on a modest improvement in financial market sentiment, but overall momentum left it poised for modest gains against the Euro and British Pound. It was a quiet start to the trading week as highly-anticipated events over the weekend failed to produce material breakthroughs or shifts in financial market sentiment.
US Dollar Rally May Find Added Fuel in Global Slowdown Fears
Most of the major currency pairs continue to show significant correlations with the MSCI World Stock Index, suggesting that broad-based risk appetite trends remain dominant as drivers of price action. This puts thematic macro-level concerns – specifically, the durability of the US recovery and its ability to offset headwinds from Europe and China facing global growth – squarely at the forefront. The US economic calendar is relatively quiet, with headline event risk clustered at the end of the week as PPI and UofM Consumer Confidence readings cross the wires on Friday. This puts the onus on evaluating the extent of downward pressure.
Euro Under Pressure But Still Waiting for Daily Close Below 1.3000
The ongoing political turmoil in Europe continues to shake the markets, with the inability for Greece to form a government now fueling speculation that the country might soon exit the Eurozone. Although an exit by Greece would have only a minimal impact on the broader economy, given the country’s size, fears of contagion seem to be the bigger problem right now, as investors start to price in the impact this will have on larger economies like Spain and Italy.
EUR Bearish Pattern Continues To Take Shape, GBP Correction In Focus
Euro: French, Greek Elections Raises Risk For Breakup – 1.3000 Crucial British Pound: Correction In Focus, BoE To Discuss Exit Strategy Euro: French, Greek Elections Raises Risk For Breakup – 1.3000 Crucial The Euro tumbled to a fresh monthly low of 1.2954 as French President Francois Hollande overtook Nicolas Sarkozy as the president of France, while the two main parties in Greece failed to obtain a joint majority, and the
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