Super Thursday

It's a big day for the pound and may not be one for the fainthearted
All at the same time we get;
  1. MPC rate decision
  2. Vote pattern
  3. Minutes
  4. Inflation report
  5. Updated economic forecasts
So what would that mean for the pound?
  • 2 votes = Mild upside move as it would be expected, if it's the usual two (more if it's someone else)
  • 3 votes = Bigger move up as although the market may be thinking it, it will wait to actually see it
  • 4 = Puts us one vote from a hike and the pound will rocket
  • 0 = Would mean a drop in the pound but then the minutes will be key. Dovish and we dump. Hawkish and the fall will be limited
It may not be wise to chase any big jump in the pound and perhaps the better trade will be to buy any dovish dip, unless the headlines do something like rule out rate hikes completely or push them back further into 2016
This day could be fireworks all day if the we get all good news or on the other hand all bad news.
More int this article: http://news.forexlive.com/!/heres-how-the-new-boe-mpc-meeting-and-inflation-report-will-go-down-20150806
Stay safe and have a green pip day!
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