As the World Economic Forum in Davos gets underway businesses, investors and journalists are lining up to debate and get a better understanding of the action taken by SNB last week and what it means for the Swiss economy. Since what is being widely referred to as a “black swan” event, the EUR/CHF has stabilised at 1.1000 and remains a focus, along with all the other euro rates, as we go into tomorrow’s ECB meeting with the market now pretty much fully pricing in QE. Ahead of the ECB we get some potentially market moving UK data releases this morning in the form of unemployment data which is expected to decline from 6.0% to 5.9%, with average earnings rising from 1.6% to 1.9%, but what might cause more of a move for sterling is the BOE minutes as we see how the MPC voted at the last meeting. Since the two members Weale and McCafferty started voting for a hike since last August they have remained consistent with their voting, but since market expectations of interest rate hikes from the BOE have receded and Governor Mark Carney has indicated that the UK could see deflation, there’s a chance one of them might reverse their call to hike. This has the potential to soften GBPUSD which has bounced from the mid 1.5000 area back to 1.5170 this morning. The unemployment data shouldn’t be ignored however, but it’ll need a much better than expected figure, as well as MPC voting to remain at 7-2, to see any further strength in GBPUSD, which from a technical standpoint remains in a downtrend. Further reading: UK: MPC Unanimous against rate cut, unemployment falls to 5.8% ECB Day Of Reckoning; FX Market May Be In For A Surprise – UBS FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Daily Look share Read Next GBP/USD set to fall below 1.50; EUR/USD has room for Gregor Horvat 8 years As the World Economic Forum in Davos gets underway businesses, investors and journalists are lining up to debate and get a better understanding of the action taken by SNB last week and what it means for the Swiss economy. Since what is being widely referred to as a "black swan" event, the EUR/CHF has stabilised at 1.1000 and remains a focus, along with all the other euro rates, as we go into tomorrow's ECB meeting with the market now pretty much fully pricing in QE. Ahead of the ECB we get some potentially market moving UK data releases this morning… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
