Enough Of The Euro 9th May, Uk Forex Update

Vantage FX (http://www.vantagefx.co.uk/) provides a daily overview of the news activity

and announcements currently shaping currency movements across the world. Jay Mawji, the companys head of market analysis, takes a look at news surrounding Eurozone economies on 9th May 2012.

Thats right, enough Euro news for the day. All we seem to talk or hear about is everything that is wrong in the Eurozone. They next few weeks, or even months, will be about the Eurozone, so today I am going to talk about anything but the Eurozone.

The Monetary Policy Committee sits to discuss and vote on interest rates and the Bank of England Asset Purchase Target tomorrow at 11am. The interest rate decision now goes by with little attention, despite however much drama the media can build around it, because we all know that interest rates are staying on hold. The key point of discussion this week is the Asset Purchase Target, known as Quantitative Easing. We have seen the UK economy enter a technical recession and we also know that Quantitative Easing can be an effective tool in driving growth. In recent meetings, the MPC have appeared certain to keep Quantitative Easing on hold to allow the economy to take its natural (hopefully positive!) course. We had seen sterling gather significant strength in currency markets, particularly against the USD and EUR. Things may now change as the Bank of England may be forced to influence the economy once again with pro-growth measures. In anticipation, we have seen sterling begin to weaken gently as economic logic says that pro-growth policies must be engaged to prevent the UK economy sliding beyond repair. We arent expecting a knee-jerk reaction from the MPC, but the minutes of this meeting could well be of upmost importance.

Tomorrow, the ECB publishes the monthly Euro report yes I know, I couldnt avoid it.

Keep your finger on the pulse of the markets with daily commentary from Vantage FX. Visit: http://www.vantagefx.co.uk/market-news/market-news/

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About Vantage FX UK

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

What sets Vantage FX apart is its 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.

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by: Vantage FX UK

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