2.05 - GBP is going to have a very tough day today
- by Anna K.
So-called super-Thursday came to the Bank of England. It is a day when all of the important reports come out on the same day. That mean that we are going to find out a lot about BOE inflation report, MPC official bank rate votes, monetary policy summary and official bank rate. In short we are going to find out a lot about the health of British economy as well as the intentions for the future. This information is very important to us as we are going to find out how all of the Brexit turbulence influenced and keeps on influencing British economy. And of course a day this important simply couldn’t begin with smooth sailing.
The huge slide indicates that traders are not ready to get this much information all in one day, although it is entirely possible that this was panic talking. After all, in the recent weeks we have seen a lot of reports disrupt performance of our favorite assets.
It seems that the panic was overcome with rational thinking as we see a recovery right after the fall. With super-Thursday here we are going to have some trouble with GBP today that is why trading signals are going to come so nifty today.