Archive - February, 2014

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On Wednesday morning the Office for National Statistics released the UK quarterly GDP growth release that remains unchanged at 0.7%. The release highlighted a positive that the construction industry output increased by 0.2% in the final quarter of 2013, compared to a previous estimate of a 0.3% decrease. The 2013 full year growth estimate is 1.8%, which though significantly below the pre-crisis levels this is a positive economy and something to build upon. The UK economy has begun to s…

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The Bank of England Minutes released on Wednesday, showed that the MPC voted unanimously to keep interest rates at the record low rate of 0.50% and asset purchases unchanged. The BoE base rate has now been at 0.50% since March 2009. In the minutes it said that despite the sharp fall in unemployment, the committee believed that the economy is able to “absorb spare capacity further before raising rates”. The change in focus from the 7% unemployment threshold to reducing the o…

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The inflation rate for the UK fell to below the Bank of England’s target of 2% for the first time since November 2009. Inflation has overshot the 2% target since then, which had been a concern for analysts, who believed the central bank would need to raise interest rates to combat the rise. Mark Carney has now released “Forward Guidance 2.0,” which is focused on the output gap, which last year the BoE said was “unobservable” and “difficult to explain&rdquo…

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Here is the Abshire-Smith President's day trading holiday schedule for theVertexFX 10andMetaTrader 4platformsover the holiday period. All effort has been made to ensure that these trading hours are correct, and the information is accurate at time of release. However there is a small possibility that these hours could change for reasons beyond the Abshire-Smith’s desks control. If you need any assistance please contact us (dealing@abshire-smith.com). This information i…

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The Bank of England governor Mark Carney released the Quarterly Inflation report on Wednesday morning followed by a Q&A session. Key Headlines *Stimulus will need to be exceptional for some time *BOE SEES UNEMPLOYMENT FALLING TO 7% IN QTR THROUGH JANUARY *BOE SEES SCOPE TO KEEP 0.5% RATE AFTER JOBLESS THRESHOLD HIT *BOE SEES CPI 1.7% IN 2Q 2015 BASED ON MKT RATE EXPECTATIONS The full Bank of England Quarterly Inflation Report In the FX market…

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Janet Yellen the newly appointed Federal Reserve Chairwoman will make her first public appearance today. The greenback is trading near a two-week high, as investors believe that Yellen will have a dovish outlook, and will leave the level of stimulus unchanged. Ben Bernanke the previous Fed Chairman had begun the tapering process, as the US economy is weaned off of the ultra-loose monetary policy. Fridays employment data, was a disappointment which some analysts believe will be one of t…

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