In Bristish Pound Super Thursday :
- BOE Report.
- BOE Press Conference
- BOE Mark Carney Speech
- BOE Interest rate decision.
What does market expect ?.
- Consensus hope there are at least two member of BOE vote for rate hike.
- How to BOE deals with low in UK.
- And the tone of BOE about current situation: Hawkish or Neutral.
- If there is no vote hike, and the vote unchanged are 9, definitely no one wants to hold Cable anymore.
As a result, with no vote uchanged, BOE must keep neutral stance and cautious attitude to and wait for more incoming data.
Market put much hope on BOE as the next hikes rate following FED.
But I think they hope too high, in fact, UK economic data is not good as we think.
- is still very low with CORE CPI is at 0.8% and CPI is pritned at 0%, while labor market didn't improve in recent reports, and yesterday PMI Construction and Market PMI Services were negative.
That is the reason I think BOE would be carefull in this meeting.
GBPUSD should go down than go up.
- GBPUSD still hold in pattern : below key at 1.5675, and above .
Any break those levels always goes with a TREND.
If I choose side, resistance become a stop loss, target I choo se is at SMA100 and strong support at 1.5335