Investors Focus on the Meeting of the Bank of England

Yesterday, the US dollar continued to recover against other world currencies. However, the growth of the US currency is constrained, as investors still remain cautious after the recent collapse in stock markets. The US dollar index (#DX) closed in the positive zone (+0.71%).

Today, the attention of financial market participants will be focused on the Bank of England meeting at 14:00 (GMT+2:00). It is expected that the regulator will leave the key interest rate unchanged at 0.50%. The report on inflation in the country will also be published. We recommend you to pay attention to the comments of the Central Bank representatives.

The Reserve Bank of New Zealand, as expected, kept the key interest rate at the same level of 1.75%. The regulator plans to adhere to the current monetary policy.

The “black gold” prices are falling against the increase in crude oil inventories in the US. Futures for the WTI crude oil are testing a mark of $61.70 per barrel.

Market Indicators

Yesterday, bearish sentiment was observed in the US stock market: #SPY (0.54%), #DIA (0.08%), #QQQ (1.29%).

The 10year US government bonds yield shows a positive trend. At the moment, the indicator is at the level of 2.82%.

Bank of England meeting at 14:00 (GMT+2:00);The number of initial jobless claims in the US at 15:30 (GMT+2:00).

by JustMarkets, 2018.02.08