For the week ending 9th. January, the focus will be on three major Forex News namely the FOMC, BOE Interest rate Decision and the much anticipated Non Farm Payrolls.
- FOMCÂ @ 19.00 GMT on Tuesday, 6th. January
- BOE Interest rate Decision @12.00 GMT on Thursday, 8th. January
- Non Farm Payrolls @13.30 GMT on Friday, 9th. January
FOMC
So far, there is no indication that the FOMC, the Federal Open Market Committee Minutes of Meeting is in favor for a change the interest rate.
BOE Interest rate Decision
The BOE will announce its decision on whether the interest rate will be maintained, increased or decreased. This announcement or this piece of Forex News will definitely affect the exchange rate of the GBP.
The Interest rate was at 5.0% around the middle of 2008 and the BOE have been decreasing the Interest rate in tandem with other Central Banks in order to stimulate the economic activities and to stay afloat during the current Global Economic Crisis.
The current Interest Rate is at 2.0% and the BOE is expected to announce a decrease to 1.5%.
Non Farm Payrolls
As usual, this report is the most anticipated in the US Fundamental Forex News Calendar. Earlier reports indicated that the Non Farm Payrolls report for the month of December is an unexpectedly a good report. There is an increase employment in the Non Farm sector by approximately 53,000 to 73,000 in number. Impact of this Non Farm Payrolls report on the USD will be very drastic.
However, the Unemployment Rate Records is not very convincing. There is a slight increase in the Unemployment Rate. It rose by about 0.3%.
Nice Information
I have studied a bunch of stuff related to investing in online books and articles and most of it is clearly conflicting. It’s so difficult to locate trustworthy information that’s built on actual facts and not merely any old dude’s opinion.