ZuluTrade Blog

Market Recap – Farewell Britain

Market View | Friday, January 31, 2020 10:21 AM GMT

This time around, the ceremonial coins to mark the UK leaving the European Union would not need to be melted down. UK is finally leaving the EU and new rounds of negotiations are set to be concluded within the end of 2020.

Yesterday, the Bank of England kept the official bank rate unchanged. The 45% chance of a rate cut that was priced before the monetary decision, combined with the no cut decision, sent GBP higher.

The impeachment trial is set to end before this Sunday’s Super Bowl, with Republicans acquitting President Trump and denying the calling of witnesses.

The World’s Health Organization (WHO) declared the new coronavirus a global emergency. Transport and Tourism is affected, sending the NZD lower but the impact could be brief, as it happened with the SARS. WHO’s director expressed his confidence in China’s ability to control the outbreak.

Macro releases:  Today’s economic calendar includes the European inflation, the European GDP q/q, the US consumer sentiment and the US core PCE reading, which is the favorite metric that FED uses to calculate inflation.


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