On Thursday will be published a lot of important data that can significantly affect the dynamics of currency pairs. Australia has already released statistics on retail sales and the trade balance. Today, two major world central banks at once will announce their decisions on interest rates and comment on the economic situation in accompanying statements. The market will be waiting for this information.
12:00 *** Bank of England Interest Rate Decision - March (UK)
12:00 *** Asset Purchase Facility - March (UK)
12:00 *** MPC Rate Statement - March (UK)
Strong impact on the market (GPB). Although investors do not expect any surprises from the Bank of England, they will listen to its comments carefully. If the nature of statements is optimistic, investors will consider this as a signal that the bank could start to raise rates in the foreseeable future. If the comments seem too neutral or even pessimistic, the reaction can be quite the opposite.
Strong impact on the market (EUR). At the ECB meeting some interesting details can be sounded regarding to the start of the asset repurchase program which is the part of the program of quantitative easing later this month. So that its results can significantly affect dynamics of the pair.
Strong impact on the market (USD). Analysts expect that the number of unemployment claims during the reporting week has grown a little more than a week earlier, and the level of labor productivity in the 4th quarter has increased.
15:00 *** Ivey PMI - February (Canada)
Strong impact on the market (CAD). The index is based on a survey of purchasing managers. It shows an improvement or deterioration in comparison with the previous month. Growth rate or exceeded the forecast is favorable for the currency.
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