The Bank of England (BOE) monetary policy committee will be releasing their interest rate decision today at 13:00 South African time.
Inflation Report: The Bank of England (BOE) Inflation Report sets out a detailed economic analysis and inflation projection upon which the monetary policy committee bases its interest rate decisions. If we see the U.K inflation increase then we can expect the GBP/USD to move lower from 1.3482 as seen in the chart.
Interest rate: The consensus is that The Bank of England (BOE) will leave the rate unchanged at 0.50% as political and economic uncertainty still looms over BREXIT.
What to trade today:
Major Forex pairs to look at will be GBP/USD, GBP/JPY, EUR/GBP
Major indices to look at will be the FTSE, DJ Euro Stoxx 50.
Locally we have dual listed stocks that might be affected like Brait, Capital and Counties, Intu Properties and Mediclinic.
Over the last couple of trading sessions, we have seen the Cable rate move lower from 1.4200 mostly due to the Dollar (USD) strengthening. Looking at the chart of the GBP/USD we can see some consolidation over the last couple of days just above the 1.3482 line where the price is finding support. if we see the Inflation (CPI) increase from the report then this might push the price lower.
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