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Big day for Sterling, Euro and Dollar exchange rates today – Interest rate decisions for BOE and ECB, ECB Press Conference and FOMC Minutes (Daniel Wright)
A big day on the markets today that may set the scene for the coming weeks, kick starting us off is the Bank of England interest rate decision at 12:00pm – No change in rates is expected however mention of Quantitative Easing could be the main focus point, should we see this then the Pound may drop against most majors.
The drop may be short lived against the Euro is it indeed does even happen, as shortly after the Bank of England rate decision we have the European Central Bank interest rate decision at 12:45pm – Once again no change in rates is expected however what will be really key for me is the press conference by the head of the European Central Bank at 13:30pm which could throw up absolutely anything. General graphs and indicators are suggesting the Euro may even strengthen back to 1.20 in the next few months hopwever I think what is said by Mario Draghi and what happens with Spain and the prospect of a bailout will be key for the performance of the Euro in the near future.
To round things off we have the FOMC minutes released this evening by the Federal Reserve over in the States – This could effect all major currencies as it will have an effect on global attitude to risk so be aware that rates could take quite a shift overnight.
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2012-10-04 03:15:30
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