empty
19.03.2024 01:30 PM
GBP/USD Forecast: Traders await BoE meeting

Today marked the conclusion of meetings of two of the world's major central banks, Japan and Australia. The decisions of both were in line with economists' forecasts, yet caused unexpected movements. Both the yen and the Australian dollar weakened after the central banks announced their policy decisions. While the Reserve Bank of Australia left its interest rate unchanged at 4.35%, causing the Australian dollar to suffer losses, the Bank of Japan raised the interest rate to 0% for the first time since 2007, ending eight years of negative interest rates and abandoning its yield-curve control policy. Following the meeting, Bank of Japan Governor Kazuo Ueda stated that the bank would continue to purchase Japanese government bonds at the same volume as before. He also added that, if necessary, the regulator would consider options for broad easing, including those used in the past. These statements likely became a negative factor for the yen, which sharply weakened after the Bank of Japan's meeting.

The Australian dollar unexpectedly came under pressure, as mentioned earlier, despite reassuring statements from Reserve Bank of Australia Governor Michele Bullock who expressed the need to be much more confident about inflation coming down to consider a rate cut. Here, investors likely paid attention to Bullock's statement that despite "encouraging signs that inflation is moderating, the economic outlook remains uncertain," fueling talks that the RBA might soon start easing its monetary policy as well.

After the meetings of the BoJ and RBA, market participants will await the Federal Reserve's meeting, whose outcome is due on Wednesday. Nearly all economists are confident that the Fed will refrain from any changes in its monetary policy parameters. Meanwhile, investors are hoping that Fed Chairman Jerome Powell will signal the timing of the start of its easing monetary policy cycle. However, given the recently published US inflation data, which recorded an acceleration instead of the expected slowdown, Powell may speak in favor of a later start to the easing cycle, not ruling out the possibility of an interest rate increase. In this case, the dollar is expected to resume gains, with its DXY index rising above the 104.00 mark.

At the time of preparing this article, the DXY was near the 103.63 mark, supported by the persisting yield of 10-year US Treasury bonds above the 4.30% mark.

On Thursday, the central banks of Switzerland and the United Kingdom will hold their meetings. Both currencies issued by these banks, the Swiss franc and the pound sterling, remain under pressure against the US dollar today.

This image is no longer relevant

Economists do not expect changes in the monetary policy parameters of the SNB and the Bank of England. At the same time, they do not rule out that BoE officials might signal an earlier start to the cycle of reducing borrowing costs than the markets currently estimate. Despite the still high level of inflation in the UK, it is slowing down. The next set of inflation data for the UK will be published on Wednesday, which will undoubtedly affect the regulator's policy decision. According to preliminary estimates, the annual consumer price index in February slowed down from 4.0% to 3.5%, and the core CPI eased from 5.1% to 4.6%. The annual retail price index to be released at the same time is estimated to have slowed down from 4.9% to 4.5% in February.

If statistics confirm a slowdown in UK inflation, and even if the Bank of England keeps its interest rate unchanged at 5.25% on Thursday, the British pound is expected to lose value due to the high likelihood of dovish accompanying statements from BoE leaders, signaling an imminent easing of monetary policy.

In this case, the GBP/USD pair will most likely extend losses to the key support level of 1.2560, separating the medium-term bull market from the bear one. Technical indicators on the daily price chart also indicate the dominance of sellers (for more details, see GBP/USD: trading scenarios on March 19, 2024).

Pilih carta masa
5
min
15
min
30
min
1
jam
4
jam
1
hari
1
minggu
Jana pendapatan melalui perubahan kadar mata wang kripto dengan InstaForex.
Muat turun MetaTrader 4 dan buka dagangan pertama anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    SERTAI PERADUAN

Artikel yang dicadangkan

USD/JPY. Analisis dan Ramalan

Pada masa ini, yen Jepun menunjukkan momentum positif berbanding dolar A.S. untuk hari kedua berturut-turut. Faktor utama yang menyokong mata wang Jepun adalah kenyataan bernada agresif daripada Timbalan Gabenor Bank

Irina Yanina 11:28 2025-05-14 UTC+2

Pihak Pasaran Sedang Mengubah Peraturan Permainan

Jangan menentang orang ramai. Menurut laporan dari Goldman Sachs dan Rizab Persekutuan, pelabur individu memegang saham A.S. bernilai $35 trilion pada akhir tahun 2024, bersamaan dengan 38% daripada keseluruhan pasaran

Marek Petkovich 09:32 2025-05-14 UTC+2

Apakah yang Perlu Diberikan Perhatian pada 14 Mei? Pecahan Acara Asas Kepada Pedagang Baharu

Analisis Laporan Makroekonomi: Terdapat sangat sedikit peristiwa makroekonomi yang dijadualkan pada hari Rabu. Satu-satunya perkara yang penting adalah anggaran kedua Indeks Aktiviti Perniagaan Jerman untuk bulan April. Anggaran kedua biasanya

Paolo Greco 06:11 2025-05-14 UTC+2

Gambaran Keseluruhan GBP/USD – 14 Mei: Hanya Perjanjian Perdagangan yang Penting

Pada hari Selasa, pasangan mata wang GBP/USD juga mengakhiri sesuatu yang boleh dipanggil memalukan kejatuhannya. Pada hari Isnin, dolar A.S. mengukuh dengan agak baik selepas pusingan pertama rundingan yang berjaya

Paolo Greco 03:52 2025-05-14 UTC+2

Gambaran Keseluruhan EUR/USD – 14 Mei: Rentak Positif Tidak Bertahan Lama

Pasangan mata wang EUR/USD mencatatkan pergerakan menaik untuk sebahagian besar hari Selasa. Seseorang mudah terbiasa dengan berita baik, dan pasaran menjangkakan pengukuhan berterusan dolar AS. Kami menjangkakan pertumbuhan dolar, dengan

Paolo Greco 03:52 2025-05-14 UTC+2

EUR/USD. Dan Kemudian Tiba Saat Kesedaran: Kegembiraan Pasaran Terhadap Gencatan Dagangan Amerika Syarikat-China Semakin Pudar

Pasaran mata wang yang pada mulanya gembira selepas pengumuman gencatan dagang sementara antara AS dan China kini telah pudar. Optimisme awal telah bertukar menjadi kesedaran bahawa gencatan tidak bermakna penyelesaian

Irina Manzenko 01:23 2025-05-14 UTC+2

Inflasi Membuat Dolar Mengalami Kesulitan

Salah satu daripada beberapa penunjuk yang sekali-sekala mendapat perhatian pasaran ialah inflasi di AS. Selepas Donald Trump memperkenalkan tarif perdagangan, para ahli ekonomi segera mula membincangkan kemungkinan kenaikan inflasi. Kesimpulan

Chin Zhao 01:14 2025-05-14 UTC+2

Euro Bersedia untuk Tindakan Balas

Manusia merancang, Tuhan menentukan. Selepas Rumah Putih mengenakan tarif ketat pada Hari Kemerdekaan Amerika, banyak perbincangan tertumpu kepada peningkatan inflasi dan kelembapan ekonomi A.S. Namun begitu, berbeza dengan jangkaan tersebut

Marek Petkovich 00:18 2025-05-14 UTC+2

USD/CHF. Analisis dan Ramalan

Pasangan USD/CHF sedang berundur dari paras tertinggi bulanan yang dicapai semalam. Pengunduran ini dipacu oleh pembetulan teknikal selepas pergerakan menaik yang kuat. Indeks Dolar AS, yang mencerminkan nilai dolar berbanding

Irina Yanina 18:30 2025-05-13 UTC+2

USD/CAD. Analisis dan Ramalan

Hari ini, pasangan USD/CAD meneruskan kenaikan lima hari berturut-turut, dan kini diniagakan berhampiran paras psikologi utama 1.4000, di mana ia sedang berdepan rintangan menjelang penerbitan data Indeks Harga Pengguna (CPI)

Irina Yanina 18:26 2025-05-13 UTC+2
Tidak boleh bertanya sekarang?
Tanya soalan anda di Ruangan bersembang.
Panggilan semula Widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.