ОписаниеJoin me on the Train With Andrew Facebook page for another fun and lively Q&A about all things trading. Ask me whatever you wish and I’ll be more than happy to solve whatever is on your mind. Whether it be technical, fundamental, risk management, mindset or anything else you need help with I’ll be waiting for you at 1.30pm AEST. Simply search for Train With Andrew on Facebook or you can click on @TrainwithABnow
My key topic for discussion today is price action in the FX market just before and just after the European trading session begins.
The Bank of England upgrades its UK economic outlook.
Thursday saw the Bank of England keep its benchmark interest rate steady at 0.75%. Governor Carney acknowledged the recent uptick in China, US and European economic growth and even upgraded the BOE’s 2019 UK GDP outlook from 1.2% to 1.5%.
The committee agreed unanimously to keep interest rates steady but he did say in his press conference. “If the world unfolds broadly as consistent with this forecast, then it will require greater withdrawal of monetary stimulus than is currently implied — it just didn’t require it at this meeting.” What does this mean? Higher interest rates sooner.
Carney’s comments surprisingly did not see a flood of money come for the Pound but this may have been because of continued Brexit concerns, a trading day which was overall “risk off” and money was flowing for the safe haven currencies such as the US Dollar, Yen and Swiss Franc as stocks retreated.
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