Focus in Forex Markets May Shift Toward Central Bank Activity
Today’s better than expected manufacturing reports from China, the Euro Zone, the U.K, and the U.S. seem to indicate that investors have accepted the possibility that the global economy may have righted itself and is now poised to improve even further.
Because of these recent friendlier economic events, Forex traders may begin to focus on central bank activity this month rather than just the economic reports. On Thursday, August 6th, the Bank of England and the European Central Bank are going to meet to discuss their current interest rate policies and to release their outlooks for the recovery.
The market seems to have already accepted the possibility of the Bank of England announcing the end to its asset-buyback program. The European Central Bank is likely to leave interest rates unchanged, but renew its hawkish economy. It seems that almost anytime there is talk of an economic recovery, the ECB reintroduces its stance on the possibility of inflation.
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