BoE and ECB in focus
|Important news for the day
- Thu, 05th, 13:00 CET UK BoE interest rate decision.
- Thu, 05th, 14:15 CET EU ECB interest rate decision.
- Thu, 05th, 14:45 CET EU ECB press conference.
- Thu, 05th, 16:00 CET US JOLTS job openings.
Rate decisions
Today’s rate decisions might move markets. The Bank of England is not expected to adjust rates today. Traders believe that the rate will remain unchanged at 3.75%. Yet, number of committee members opting for a rate cut might offer further insights into the Central Bank’s decision making process. Since the last meeting the expectentancy of further rate cuts keeps falling and despite the current weakening of the labour market no change might not give the Pound much upside momentum. Furthermore, also the European Central Bank is not expected to cut rates. With rates remaining steady at 2.15% the focus might also remain on the press conference and Christine Lagarde’s words.
Market talk
The Dollar remains in a sideways pattern so far this week and has not been moving much against other currencies. The DXY is pointing to some potential upside of the Greenback, which might influence also other markets. While the price of gold remains positive Silver keeps fighting with its recent uptrend. The current demand seems limited and some economic headwinds might also harm prices from rising further. On the other hand oil prices keep pushing higher. A potential break higher above the USD 66.50 level might be on the cards these days.
Tendencies in the markets
Equities sideways, USD stronger, crypto weaker, oil positive, Silver sideways, Gold positive.
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