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Thursday, May 9, 2024

BOE leaves bank rate unchanged at 5.25%, as expected

BOE leaves bank rate unchanged at 5.25%, as expected

Prior 5.25% Bank rate vote 7-0-2 vs 8-0-1 expected (Dhingra, Ramsden voted to cut by 25 bps) Statement details to follow..... 

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A look at the BOE rates pricing ahead of the policy decision later

And I don't think that will change after the BOE decision, as they are likely to stick with the status quo. The odds of a June move are priced at ~46% with August pretty much fully priced in at ~96% n... 

Cable holds just below 1.25 ahead of BOE policy decision

With the BOE in focus, let's take a look at the levels in play for GBP/USD and how the decision might affect sterling. GBP/USD daily chart The pair ran up to test the 50.0 Fib retracement level at 1.2... 

Crude Oil Technical Analysis – Dead cat bounce or the start of a rally?

Crude oil has been on a steady downtrend since the end of the retaliations between Iran and Israel that eventually marked the top in the geopolitical risk premium. The selloff continued as we got some... 

Another boring day on the data front

This week continues to be very boring as the lack of key economic data and the waiting for the US CPI next Wednesday keeps the markets at bay. Today, after the BoE policy decision , we will get the la... 

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FX option expiries for 9 May 10am New York cut

There are a couple to take note of on the day, as highlighted in bold . The first is a range of expiries for EUR/USD from 1.0745 through to 1.0775. That is likely to help lock price action from runnin... 

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