FED & BOE TO MOVE THE MARKETS

The central banks of the U.S. and the U.K. will be holding their monthly sessions this week to decide on where to set key interest rates. Investors worldwide will be watching these key events closely as they can greatly affect USD and GBP pairs*

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FED Webinar
Wednesday @18:45 GMT
The EUR/USD climbed after the U.S. Federal Reserve voted to leave rates unchanged at 1.25% last month, highlighting “solid” economic growth. This left room for another rate hike in December with analysts claiming that a rate hike is highly likely this month pricing in the odds at 100%, according to Investing.com’s Fed Rate Monitor Tool.
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BOE Webinar
Thursday @11:45 GMT
As expected, the Bank of England decided to increase interest rates in November, marking the first rate hike in the last decade. Specifically, the BoE increased the benchmark interest rate from a record low of 0.25% to 0.50%, which effectively reversed the last rate cut in the wake of the Brexit referendum. The rate hike was widely anticipated, however, which led to a sell-off of the sterling and caused the EURGBP to rally.
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*Source: investing.com
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What do the analysts expect this month?

Release Forecast* Previous*
FED Interest Rate Decision 1.50% 1.25%
BOE Interest Rate Decision 0.50% 0.50%
*Table source: investing.com

How might the Forex Markets be affected?

icon A generally hawkish stance and/or a higher than expected key interest rate can be considered as positive/bullish for USD and GBP pairs.*
OR
icon A dovish monetary outlook and or a lower than expected rate is expected to have a negative/bearish effect on USD and GBP pairs.*