Bank of England Super Thursday

Daily Update - 11th May 2017

Yesterday’s Market

• EUR ECB President Draghi’s Speech

Yesterday’s explained

ECB Draghi’s statement: “We will naturally exit stimulus together with the improvement in the economy and rebound in inflation”. Euro is further under the shocks of the USD Rallying against it in speculation of Interest Rate decisions for the Fed.

Boston Fed President Eric Rosengren, an influential U.S. central bank official, said on Wednesday that Federal Reserve should hike interest rates three more times this year, mapping out a somewhat hawkish option for the U.S. central bank.

The dollar had temporarily paused its rally after U.S. President Trump's fired FBI chief James Comey but steadied on expectations of further US interest rate increases.

Today’s Market

• GBP Bank of England Interest Rate Decision, Monetary Policy Summary & Quarterly Inflation report

Today’s Focus

BoE Interest Rate Decision is announced by the Bank of England. If the BoE is hawkish about the inflationary outlook of the economy and raises the interest rates it is positive, or bullish, for the GBP. Likewise, if the BoE has a dovish view on the UK economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish. This will be followed by Quarterly Inflation figures which gives us a detailed insight of the Economic Analysis and Inflation projections