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  1. #1
    Legendry Member milos's Avatar

    Good news for GBP today! !!!

    At today's meeting of the Bank of England Governor Mervyn King is probably the third time will not be able to in order to expand the program to stimulate the financial economy. As expected Bank of England will keep interest rates still at a record low of 0.5% and bond purchase program at 375 billion pounds so far. Finance Minister George Osborne is March 20th said he would give greater freedom for the Monetary Policy Committee of the Bank of England in order to achieve the goal of bringing inflation to 2%. During February, inflation reached 2.8% according to estimates Bank of England possible further rise in the coming months. Among major currencies, sterling has had the biggest drop this year .GBP/USD rise to 1.52 level in next two days.

  2. #2
    Solid Member Murphy13's Avatar
    GBP performed much better today as compared to the EUR especially after the Draghi speech, when the Euro dropped by almost 80 pips. I think the future of the pound is much better and purchasing some monthly puts on the EUR/GBP could produce great results!

  3. #3
    Legendry Member milos's Avatar
    Today's meeting of the Bank of England kept its interest rate at 0.50% and a program of quantitative easing to 375 billion pounds so far. Service sector activity in the UK had the largest increase since August last year. PMI increased to 51.8 as it was in February to 52.4 in March. Economists had expected a drop to 51.5. This suggests that the UK will avoid recession, the third in the last five years.

  4. #4
    Veteran Member uj.forex's Avatar
    GBP USD got some fuel today, as BOE decided NOT to increase asset purchase facility or lower the interest rate, hence depicting the impression that there is much left to be explored in the current economy and a few bad data does NOT represent the overall economy's condition.... recovery is there and traders could be optimistic on their economy, this is what the impression was given today...

  5. #5
    Legendry Member milos's Avatar
    The Bank of England at today's meeting kept current monetary policy.GBPUSD look for further upside with 1.522 to 1.524
    Last edited by milos; 04-04-2013 at 05:01 PM.

  6. #6
    Legendry Member milos's Avatar
    Monetary policy committee of the Bank of England will keep the current government bond buying program at 375 billion pounds.According to the notes the last meeting the majority of the committee believes that monetary policy is already very stimulating.During the last month the pound rose 1.7%. Manufacturing production rose to 1.1%. No change interest rate.

  7. #7
    Legendry Member milos's Avatar
    The British pound halted the decline of the against the dollar in the morning with good results support employment and increasing growth forecast by the Bank of England presented it’s report of inflation. Current inflation in UK is 2.7%. The Bank of England has raised it’s growth forecast in it’s latest report of inflation. According to the still Bank of England Governor Sir Mervyn King is expected GDP growth of 0.3% in the first quarter of this year. It is also expected faster inflation falling but still expected to be above the target value 2% for the most part over the next two years. In next quarter is expected GDP growth of 0.5%.

  8. #8
    Specialist Member marvel's Avatar
    Quote Originally Posted by milos View Post
    The British pound halted the decline of the against the dollar in the morning with good results support employment and increasing growth forecast by the Bank of England presented it’s report of inflation. Current inflation in UK is 2.7%. The Bank of England has raised it’s growth forecast in it’s latest report of inflation. According to the still Bank of England Governor Sir Mervyn King is expected GDP growth of 0.3% in the first quarter of this year. It is also expected faster inflation falling but still expected to be above the target value 2% for the most part over the next two years. In next quarter is expected GDP growth of 0.5%.
    I am surprised that UK inflation is so big. If the GDP growth is only 0.3% that mean after subtracting the inflation number we will have negative growth or otherwise said decrease in the real GDP. In many other European countries we have negative real GDP change and this could lead to many problems not only with the stock markets but also with the real economy in the near future.

  9. #9
    Legendry Member milos's Avatar
    Click image for larger version.

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    http://www.bankofengland.co.uk/publi...rt/infrep.aspx

    GBPUSD is under pressure. It will be tested support 1.52

    Key levels
    1.5275
    1.5226 last
    1.51900
    1.51600
    1.51350

  10. #10
    Legendry Member milos's Avatar
    The British pound continued to rise against the dollar fueled by worse than expected data from the labor market in the U.S. as well as good performance of the services sector in the UK.Good economic performance have already increased the existing expectation that the Bank of England will keep the current monetary policy.Previously published reports have shown better than expected results in the production of buildings and also supported the growth of the British currency.Positive economic indicator as well as unchanged monetary policy of the Bank of England have had positive impact on sterling,which has risen 0.28% against the U.S. dollar.The Bank of England has voted to keep benchmark interest rate at the same level of 0.50%. And bond buying program will remain unchanged at 375 billion pounds.Index of house prices in the UK in May rose more than analyst's expectations.This is the forth consecutive month that the index grows.According to the Halifax Bank of Scotland in May,there was an increase of 0.4% after the April rate of 1.1% expected growth was 0.2%.
    Last edited by milos; 06-06-2013 at 02:49 PM.

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