UK MPC Minutes

NEWS TRADINGWednesday March 21, 2012[5:30am NY Time]




MPC Meeting Minutes is scheduled to be released today and
since it´s customary for BOE (Bank of England) not to
release a statement along with its interest rate decision
(2 weeks ago) if there were no changes to either rate
decision or APF (Asset Purchasing Facility, UK´s
quantitative easing program); today will be the first time
for a glimpse into what took place during this meeting,
here is the forecast:

5:30am NY Time UK MPC Minutes
Forecast 0-0-9 Previous 0-0-9
ACTION: N/A



The Trade PlanWe will be looking at the vote count today but because of the current economic situation in UK and the uncertainty of the overall market view on Sterling, I’d recommend to sit on the sideline or follow me in the traderoom to trade this release. Due to the nature of this release, you need to have a newswire or audio service in order to trade it. If we see a steady market reaction after the release, it may very well carry over to the NY Session, therefore I’d wait for 5 minutes before even deciding on a trade. If market moves steadily, then I will use the double-fibonacci method and follow that trend.

Book: GETTING STARTED in FOREX TRADING STRATEGIES - Michael D. Archer

Book: BEAT the ODDS in FOREX TRADING - I.R. Toshchakov