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For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
Good morning,
GBP rates are almost certain to move today at 12 noon as the Bank of England releases its interest rate decision. Analysts are expecting a 0.75% hike to 3%. Anything outside of that could cause a big move.
Yesterday saw a big move for GBP/USD on the back of the FED hike of 0.75%, so we are expecting similar later today. The rate decision coincides with the Bank of England monetary policy report, the asset purchase facility and the monetary policy committee vote. The vote is expected to be unanimously nine to zero in favour of the 0.75% expectation, so this will also be a much followed number.
The Bank of England Governor, Andrew Bailey, then gives his speech half an hour later which coincides with the US's initial jobless claims which could help bolster GBP/USD rates.
As if that wasn't enough there's also the US ISM Services PMI out mid afternoon so expect a continuance of the volatility expected today.
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Today’s Economic Calendar
UK: 12:00 BoE Interest Rate Decision
UK: 12:00 Monetary Policy Report
UK: 12:00 BoE Asset Purchase Program
UK: 12:00 MPC Vote Count
UK: 12:30 BoE Governor Speech
US: 12:30 Initial Jobless Claims
US: 14:00 ISM Services PMI
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As ever we look forward to keeping you in the loop and look out for our next update.
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