Focus on BoE and ECB Policy Meetings
Today’s Halifax housing market report in the UK did not stoke any volatility in the Pound as market participants remained focused on the BoE and the ECB policy meetings scheduled later today. Investors will look for hints to the timing of an interest rate rise in the UK amid prospects of an easing trend in Britain’s consumer price inflation going forward. Meanwhile, investors in the Euro will keep a tab on the ECB President’s post-meeting press conference to gain insight into the possibilities of an outright bond purchase programme in the Euro bloc amid prospects of deflation in the region.
Across the Atlantic, tomorrow’s official labour market report holds prime importance, particularly after the ADP report released yesterday missed market estimates.