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UK BOE Interest Rate - February 4, 2016
UK BOE Interest Rate Decision will probably not surprise the market today as recent comments by Carney has been clear that the MPC will not hike rates probably until the end of the year…
7:00am (NY Time) UK BOE Interest Rate Forecast 0.50% Previous 0.50%
[b]7:00am (NY Time) APT (Asset Purchasing Target) Forecast 375B Previous 375B
DEVIATION: 0.25% interest rate / 25B Pound for APT (BUY GBP @ +0.75% rate / SELL GBP @ +400B APT or 0.25% Rate)[/b]
Use this pairs:
GBP/USD and GBP/CAD
The Trade Plan
In the extremely unlikely event BOE hikes rate to 0.75%, we´ll buy GBP immediately on a spike trade. Because of the level of this surprise, I think we´ll see a strong trend change for GBP in the next few weeks, so we should BUY and keep a small portion for larger gains… On the other hand, if we get a surprise increase to 400B or more in the APT or better known as quantitative easing, it would send a bearish signal to the market, and we should SELL GBP in the short-term; however, further stimulus is likely to help GBP in the long run, so if you missed the original SELL entry, I’d suggest to BUY GBP instead at support… There is also a possibility for a third scenario, BOE cutting rates to 0.25%, and if that’s the case, it should be a SELL on GBP.
Good Luck....!!!
UK BOE Interest Rate Decision will probably not surprise the market today as recent comments by Carney has been clear that the MPC will not hike rates probably until the end of the year…
7:00am (NY Time) UK BOE Interest Rate Forecast 0.50% Previous 0.50%
[b]7:00am (NY Time) APT (Asset Purchasing Target) Forecast 375B Previous 375B
DEVIATION: 0.25% interest rate / 25B Pound for APT (BUY GBP @ +0.75% rate / SELL GBP @ +400B APT or 0.25% Rate)[/b]
Use this pairs:
GBP/USD and GBP/CAD
The Trade Plan
In the extremely unlikely event BOE hikes rate to 0.75%, we´ll buy GBP immediately on a spike trade. Because of the level of this surprise, I think we´ll see a strong trend change for GBP in the next few weeks, so we should BUY and keep a small portion for larger gains… On the other hand, if we get a surprise increase to 400B or more in the APT or better known as quantitative easing, it would send a bearish signal to the market, and we should SELL GBP in the short-term; however, further stimulus is likely to help GBP in the long run, so if you missed the original SELL entry, I’d suggest to BUY GBP instead at support… There is also a possibility for a third scenario, BOE cutting rates to 0.25%, and if that’s the case, it should be a SELL on GBP.
Good Luck....!!!