Trading Strategy

What is it? The BOE's MPC meeting minutes contain the interest rate vote for each MPC member during the most recent meeting. The breakdown of votes provides insight into which members are changing their stance on interest rates and how close the committee is to enacting a rate change in the future.

When? December 17^th at 4:30am Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the GBP to rise.

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What is it? It checks the change in the number of people claiming unemployment-related benefits during the previous month.

Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country's monetary policy.

When? December 17^th at 4:30am Eastern Time.

Trading Tip: If the number is lower than the forecast, you can expect the GBP to rise.

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What is it? It checks the change in the price businesses and the government pay for labor, including bonuses.

It's a leading indicator of consumer inflation - when businesses pay more for labor the higher costs are usually passed on to the consumer.

When? December 17^th at 4:30am Eastern Time.

Trading Tip: If the number is higher than the forecast, you can expect the GBP to rise.

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Yesterday, US markets rallied at the open as oil prices rebounded slightly.  However, the commodity failed to hold onto gains and fell back down, reigniting bearish sentiment.

Asian markets declined across the region. The Nikkei lost 2.01%, reaching a 6 week low. The Yen strengthened following the reelection of the current government, led by Prime Minister Abe and investors welcomed stability.

European markets are mixed today due to a number of factors. Investors are selling off riskier assets as they focus on oil prices and watch the Ruble’s collapse following the interest rate hike to 17%.

Oil reached a new 5 year low as OPEC made no indication that they would cut production despite the price dropping far below $60/barrel. Separately, the UAE Oil minister stated that OPEC would not cut production until the price falls as low as $40/barrel. The price is now rebounding slightly after positive data from across Europe. Traders should focus on inventory data from the API which will be released at 9:30pm GMT.

Gold dropped strongly but has since regained all losses as traders anticipate the FOMC meeting and its statement on Wednesday. Russia’s decision to hike rates has also brought uncertainty into the market increasing demand for safe haven assets.

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What is it? It checks the change in the average price of dairy products sold at auction.

It's a leading indicator of the nation's trade balance with other countries because rising commodity prices boost export income.

When? December 16^th.

Trading Tip: If the number is higher than the forecast, you can expect the NZD to rise.

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