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Bank of England to decide fate for the Pound today – Sterling forecast
Today at midday sees the Bank of England interest rate decision and although no change in interest rates is expected the focus appears to be on whether or not further QE will be put into place.
The BOE seem to like mentioning QE as a tool to talk down the value of the POund which in turn keeps our exports up and this has certainly worked in their favour again over the past week or so with the losses we have seen.
The losses as mentioned previously are due to a potential hung parliament, a large deal with Prudential and mortgage approval data being absolutely dire at the start of the week, add to that our revised GDP figures from Friday and things do not look great for Sterling.
Greece place new measures which brings minor confidence back to the Euro and minor strength – Euro forecast
Yesterday Greece announced details of their plans to conquer their huge budget deficit plans and how they would be supporting European assistance.
This was taken reasonably well for the Euro Zone and led to minor Euro strength but I am sure we have not heard the last of it.
U.S Unemployment figures set to lead to market volatility
Later this afternoon sees the release of unemployment figures for the States and it is a coin toss as to whether or not we will continue to see a further increase in jobless claims as we saw nearly 500,000 new claims in January.
The services sector appears to be improving in the U.S however whatever comes out of today’s unemployment figure is bound to cause some volatility.