Forex Sentiment is Key with the Announcement of Bank of England Minutes August 14th – Vantage FX Comments

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Vantage FX’s Jay Mawji, comments on the likelihood of easing based on what comes out of these minutes.

Vantage FX - Multi-Award Winning Forex Broker

Vantage FX - Multi-Award Winning Forex Broker

The release of minutes from the Bank of England is always an important moment for forex and one which all eyes and ears will be focused on to see what happens on August 14th.

Wednesday’s BoE minutes will be no different and on this occasion are particularly interesting as they could be the last minutes before the governor comes in. The sentiment forex gets from this announcement may indicate how likely further stimulus action will be.

Vantage FX, Head of Market Analysis Jay Mawji commented:

“The last MPC meeting showed that the Bank of England has every intention to keep rates and easing on hold. A recent address by Mark Carney talked about a potential increase in interest rates, if unemployment fell to 7% and the economic outlook remained positive.

“Easing remained an option where required, although there was sufficient reference to the 2% inflationary target, suggesting it will be limited. The minutes will show the view of the MPC and could point to a few cracks that could appear between MPC members and Mark Carney.”

Vantage FX is now producing a daily forex sentiment index to provide forex traders with a handy way to see what the feeling is in the market around particular currency pairs.

Follow Vantage FX on Twitter for regular updates on market news and fx trading tactics.

About Vantage FX

Vantage FX is an internationally recognised Forex broker based in the City of London, providing foreign exchange trading services and a UK trading platform to clients in the UK, the EU and the rest of the world.

What sets forex brokers Vantage FX apart is their wide range of services and outstanding level of customer support. The company strives to provide an intuitive, interactive Forex experience by continually innovating and taking advantage of the latest trading technology, such as MetaTrader 4 and Expert Advisors as well as offering handy tools such as a forex market calendar.

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