{"id":105884,"date":"2017-05-11T06:51:30","date_gmt":"2017-05-11T10:51:30","guid":{"rendered":"http:\/\/countingpips.com\/?p=105884"},"modified":"2017-05-11T06:51:30","modified_gmt":"2017-05-11T10:51:30","slug":"what-to-expect-on-boes-super-thursday","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/05\/what-to-expect-on-boes-super-thursday\/","title":{"rendered":"What to expect on BOE\u2019s Super Thursday?"},"content":{"rendered":"<div id=\"inves-2081717993\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">May 11, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/p>\n<div class=\"field-body\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\n<p>Pound sterling has been flirting with the 1.3 level for most of the past week, but failing to break above this key level indicates that a strong catalyst is needed to convince traders to go long from here. Whether we see a break above or a pullback hinges upon the Bank of England\u2019s decision and the quarterly Inflation Report issued today.<\/p>\n<p>Although market participants are confident that interest rates won\u2019t change today, there seems to be divided opinion on what messages we\u2019ll receive due to the mixed economic data releases in the past couple of weeks. On the positive side, unemployment is at its lowest levels in twelve years, economic activity is improving based on PMI\u2019s, and inflationary pressures are building with consumer prices above 2%. On the downside, GDP came well below expectations in Q1, consumers are hesitant to spend, wage growth is not keeping pace with inflation, and housing activity is heading south. The central bank will also take into consideration the political hurdles of the snap general election on 8 June and UK\u2019s negotiations with the EU.<\/p>\n<p>Overall, I think there\u2019s little reason for the BOE to shift expectations one way or the other. The base case scenario is to wait and see until we get more clarity on both the economic and political outlook.<\/p>\n<p>Although I don\u2019t see sufficient support for GBPUSD to trade much higher than current levels, if any MPC voting members join Kristin Forbes to vote in favor of a rate hike, the pound is likely to break above the 1.3 level, as a shift to the hawks will suggest a rate hike coming soon.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><em><strong>Disclaimer: <\/strong>The content in this article comprises personal opinions and should not be construed as containing personal and\/or other investment advice and\/or an offer of and\/or solicitation for any transactions in financial instruments and\/or a guarantee and\/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.<\/em><\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\" rel=\"noopener noreferrer\">www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime Pound sterling has been flirting with the 1.3 level for most of the past week, but failing to break above this key level indicates that a strong catalyst is needed to convince traders to go long from here. Whether we see a break above or a pullback hinges upon the Bank of [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-105884","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/105884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=105884"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/105884\/revisions"}],"predecessor-version":[{"id":105887,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/105884\/revisions\/105887"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=105884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=105884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=105884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}