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Fundamental Analysis
Daily Market Analysis by FxGrow
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[QUOTE="FxGrow Support, post: 87716, member: 34135"] [B][SIZE="4"]Daily Market Analysis – 07th Aug, 2015[/SIZE][/B] [I]By FxGrow Research & Analysis Team[/I] [B][SIZE="5"]Bank of England maintains Bank Rate at 0.5% and the size of the Asset Purchase Programme at £375 billion [/SIZE][/B] [IMG]http://i1148.photobucket.com/albums/o568/onestore40/BoE_zps3ckdequb.png[/IMG] The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy in order to meet the 2% inflation target and in a way that helps to sustain growth and employment. At its meeting ending on 5 August 2015, the MPC voted by a majority of 8-1 to maintain Bank Rate at 0.5%. The Committee voted unanimously to maintain the stock of purchased assets financed by the issuance of central bank reserves at £375 billion, and so to reinvest the £16.9 billion of cash flows associated with the redemption of the September 2015 gilt held in the Asset Purchase Facility - Bank of England. Robust private domestic demand is expected to produce sufficient momentum to eliminate the margin of spare capacity over the next year or so, despite the continuing fiscal consolidation and modest global growth. This is judged likely to generate the rise in domestic costs expected to be necessary to return inflation to the target in the medium term - Bank of England. There had been a range of influences on international financial markets over the month, including: reactions to news on the progress of negotiations between the Greek government and its creditors; falls in global commodity prices; and large moves in Chinese equity prices. There had been some associated volatility in UK equity markets within the month - Bank of England. Following the news GBPUSD plunged to a low of 1.5465 yesterday and is currently trading at 1.5517 in the European trading session. "It would have been imprudent to push through a rate rise at this moment when our economic recovery remains in need of care and encouragement" - John Longworth, British Chambers of Commerce. "Rates will eventually have to rise and when they do, it should be done slowly and steadily. Until that moment, the Bank of England is right to keep interest rates at current levels" - John Longworth, British Chambers of Commerce. Globally Investors are awaiting the Non-Farm Payrolls report due to be released at 12:30 GMT today. US NFP is expected to come at 225K and Unemployment rate is expected to stay steady at 5.3% This month Nonfarm Payroll release will decide the timing of the rate hike by the Federal Reserve this year. A better than expected report will see US Dollar gaining ground and EURUSD is expected to touch 1.0800 on strong NFP data. Crude oil is trading lower at $44.73 on oversupply concerns. Gold is trading higher in the Europe at 1090.91, while Silver is up at 14.75 [B][I][SIZE="1"]07th Aug 2015 – 10:51hrs GMT[/SIZE][/I][/B] [I][SIZE="1"][B]Note:[/B] This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.[/SIZE][/I] [/QUOTE]
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