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Bank of England minutes tomorrow and all eyes on GBP/AUD rates (Joshua privett)
Overnight the minutes released by the Reserve Bank of Australia show a mixed view of the current economic forecast for the Australian economy.
While they hinted that increased employment had ‘put a dent’ in the chances for another rate cut, this was balanced out by negative views on the current state of the world economy. As such the Australian Dollar is now lower once the minutes revealed developments in Greece and China would influence future rate decisions.
After such a morbid view, inflation data to be released tomorrow morning must be positive to stop a complete slide on Dollar value.
Today is a quiet day for data releases, so markets are looking to the release of Bank of England minutes and interest rate decisions.
Recently Mark Carney, the Governor of the Bank of England, suggested that interest rates may rise at the turn of the year. This means we could see a change in the voting tally for raising rates tomorrow. This could bolster Sterling, yet the alternative (no change from the 0 out of 9 who voted for a rate hike last month) will do the opposite. It will show that Carney’s comments may be more bluster than concrete policy supported by the rest of the board, which could lead to Sterling weakness.
Call into the trading floor on 01494 787 478 and ask for Joshua to discuss how to take advantage of a specific economic event. A number of tools are available to help you buy at the high, or buy before the rates fall back to far to prevent any losses. [email protected]
Source: http://www.poundsterlingforecast.com/2015/07/21/bank-of-england-minutes-tomorrow-and-all-eyes-on-gbpaud-rates-joshua-privett/
