The GBP Traders Crucial Day.
Tomorrow (Thursday, May 11th) the GBP is intended to perform in high volatility with a release of several UK economic parameters.
The first release will be the Manufacturing Production Index at 09:30AM (GMT+1). The Manufacturing Production Index measures the change in the total inflation-adjusted value of output produced by manufacturers.
At 12:00PM (GMT+1) the Bank of England reveal show their quarterly inflation report which will set out the detailed economic analysis and inflation projections according to the BOE policy.
As the inflation report is published the BOE will also state the Interest Rate Decision for this month, the current interest rate is 0.25%. Most analysts expect that the interest rate will remain unchanged for now.
The BOE announcements will likely cause a move to GBP and to all the GBP related assets. GBP/USD will likely test the level at 1.3000 again.
In the case of conversely results we will most likely see a correction downwards.
*By trading CFDs your capital is at risk.