Trading Plan – Monday 26th April 2021: Bank of England forecasts “speedy growth”
It is a busy week in the markets.
Today saw Bank of England Deputy Governor Broadbent forecast consecutive quarters of “speedy growth” as the UK pulls itself out of lockdown.
The Bank of Japan rate and statement is tomorrow. We wait in hope that one day they will say something that moves the market. Wednesday sees the Fed Funds Rate in the US. The meeting is expected to be dovish. It has been reported in Bloomberg that a group of economists believe the Fed will start to taper QE in Q4 this year. Now that does move the market.
We have the OPEC/JMMC meeting on Wednesday. It is worth pointing out that for the last three or four meetings they have trailed their supposed intentions prior to the meeting and then done something entirely different at the meeting itself, so be careful with anything you read.
The week ends with the Fed’s favoured measure of inflation – Core PCE Price Index. In Japan we have Tokyo Core CPI.
As always, in the video I go through my detailed trading themes for this week and my bias (expected price direction) for each of the assets I trade.
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