November 21, 2012
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:
4:30am NY Time UK MPC Minutes
Rate Forecast 0-0-9 Previous 0-0-9
APT Forecast 0-0-9 Previous 0-0-9
DEVIATION: 2 Votes (BUY GBP on 2 votes of rate hike / BUY GBP on 2 votes of APT Increase)
Rate Forecast 0-0-9 Previous 0-0-9
APT Forecast 0-0-9 Previous 0-0-9
DEVIATION: 2 Votes (BUY GBP on 2 votes of rate hike / BUY GBP on 2 votes of APT Increase)
Definition
The MPC meets every month to set the interest rate. Throughout the month, the MPC receives extensive briefing on the economy from Bank of England staff. This includes a half-day meeting known as the pre-MPC meeting which usually takes place on the Friday before the MPC’s interest rate setting meeting. The nine members of the Committee are made aware of all the latest data on the economy and hear explanations of recent trends and analysis of relevant issues. The Committee is also told about business conditions around the UK from the Bank’s Agents. The Agents’ role is to talk directly to business to gain intelligence and insight into current and future economic developments and prospects.
The MPC meets every month to set the interest rate. Throughout the month, the MPC receives extensive briefing on the economy from Bank of England staff. This includes a half-day meeting known as the pre-MPC meeting which usually takes place on the Friday before the MPC’s interest rate setting meeting. The nine members of the Committee are made aware of all the latest data on the economy and hear explanations of recent trends and analysis of relevant issues. The Committee is also told about business conditions around the UK from the Bank’s Agents. The Agents’ role is to talk directly to business to gain intelligence and insight into current and future economic developments and prospects.
The monthly MPC meeting itself is a two-day affair. On the first day, the meeting starts with an update on the most recent economic data. A series of issues is then identified for discussion. On the following day, a summary of the previous day’s discussion is provided and the MPC members individually explain their views on what policy should be. The Governor then puts to the meeting the policy which he believes will command a majority and members of the MPC vote. Any member in a minority is asked to say what level of interest rates he or she would have preferred, and this is recorded in the minutes of the meeting. The interest rate decision is announced at 12 noon on the second day.
Recommended Pairs : GBPJPY , GBPUSD
GBP/USD - British Pound / US Dollar
Resistances : Weekly 1.596 ; Daily 1.5935 ; Hourly 1.591
Supports : Weekly 1.582 ; Daily 1.5835 ; Hourly 1.5875
BOOKS
The Little Book of Currency Trading: How to Make Big Profits in the World of Forex - Kathy Lien - EUR 12,93 
Lien does a really good job of explaining the basics of the
forex market and some topics that are usually avoided in other books such as the
biggest scams in the market and the top 10 mistakes (which I have been guilty of
at one point or another!). For those of you that are a bit more advanced like
yours truly, the Bollinger Bands were an interesting and practical tool. I
actually backtested it with some relatively good results.
LEFT Brain Trading technique can help improve trading confidence and performance
through a process of self-discovery coupled with a revolutionary new way to set
up charts to reveal the universal framework that governs all currency movements.
This full-colour, illustrated book describes how mental programming can affect
trading and how this can be changed for the better. It also introduces a new way
to use the Fibonacci ratios to provide the trader with a one-time framework
set-up; easier identification of trading opportunities; a means of identifying
the size of a trade; and improved risk management. Purchasers of this book are
invited into a dedicated online forum and a video channel at
youtube.com/leftbraintrader. Trading appears be a good way to generate wealth.
For many traders this isn't their experience. We are all driven by our
subconscious programming, and much of it is negative. At an early age, we take
on beliefs about ourselves and about the way the world works that have a huge
impact on how we live our lives. Because this dynamic is largely subconscious,
we don t realize it is happening, nor appreciate its impact on our ability to
generate success or happiness. Spending time on techniques, books and positive
affirmations can, ironically, make matters worse by increasing the internal
conflict between our subconscious programming and what we want. In Forex we know
that the candlesticks move to patterns, so the patterns must exist behind the
candlesticks. It makes sense to find the pattern on the charts, rather than in
the resulting currency movements. The Absolute Fibonacci Framework shows this.
It is applied to charts permanently and can be used in conjunction with any
trading system. For more, see Customer Discussions and Amapedia below the
reviews. Set your charts, take some time to watch them and see the patterns.
Nessun commento:
Posta un commento