Wednesday, September 30, 2015

Carney does not mention monetary policy

FXStreet (Guatemala) - Carney, who is making a speech at the Lloyd's of London on climate change and financial stability, did not make a reference to monetary policy. GBP/USD traders will have to look to the UK GDP and end of week Nonfarm Payrolls.

In respect to the GDP data, analysts at TD Securities explained, "The Q2 GDP numbers on Wednesday will fully incorporate major historical revisions to the UK GDP which are highly academic, but may generate a lot of chatter about how the UK economy is faring better than first reported.

We already know that GDP growth from 2011 to 2013 will be revised up significantly (by up to 0.5% per year), which will undoubtedly generate some hawkish headlines. However, barring any major changes to the 2015 numbers, the MPC will see the revisions as purely structural, and won’t even entertain the idea of changing their policy stance."
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