FOREXYARD: Forex News Blog

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GBP in the Spotlight with Asset Purchase Facility and Official Bank Rate Posted: 08 Sep 2010 11:43 PM PDT The EUR has been falling against a number of its currency rivals over the past day-and-a-half due to a sudden rise in risk aversion. However, yesterday's successful debt auction in Poland and Portugal helped add a minor boost to the 16-nation single currency. The US Federal Reserve's Beige Book release also highlighted a growing stagnation in US economic growth, fueling a large number of concerns worldwide. Today's major economic releases: 11:00 GMT: GBP – Official Bank Rate Great Britain is due to release its interest rate figure today, with high volatility being forecast as a result. Even though expectations are for interest rates to be held steady today, the announcement coincides with the Asset Purchase Facility update and a subsequent rate announcement which provides further details on the state of the British economy. This makes today an important day for GBP traders and many investors may want to be on the lookout for intense volatility. 12:30 GMT: USD and CAD – US and Canadian Trade Balance Reports Both the US and Canada are scheduled to publish their trade balance figures today. These figures report on the difference between imports and exports in each nation's economy, and have a direct correlation with supply versus demand. As a result, the USD and CAD will likely see high volatility, and potential growth if positive numbers are released.

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