3 major currencies – 3 bank’s decisions

Today is the big day in European countries after U.S. interest rate decision because 3 banks in European Union will release the interest rate: Swiss National Bank, Bank of England and European Central Bank.
SNB will release the interest rate decision and monetary policy at 15.30 p.m. which forecasted unchanged at -0.75%. It will effect to Swiss franc suddenly, if the interest rate change higher or lower. However, if Swiss National Bank keeps interest rate the same, the monetary policy will effect to CHF strongly.
Moreover, Bank of England also may keep the interest rate at 0.50% at 19.00 p.m. I suggest seeing how BoE will talk about inflation and the policy to reduce inflation from 3% to 2%. If there are some good signals about decreasing inflation in U.K., pound may rise up.
Furthermore, ECB also may not change the interest rate at 0.00% but investors should keep eyes on reducing QE in EU after New Year and economic growth in European countries.
In my point of view, U.S. dollar may hold steady against other major currencies. World stock markets may get the good support because New Year is coming and people may eagerly invest. SET may keep moving sideways around 1700 points because of LTF-RMF.
Bitcoin shocks because North Korean hackers have been targeting Bitcoin to continue its nuclear weapons program. But bitcoin price still hold steady above 16,000 USD. Ethereum price may move sideways before making new high.

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade

Olymp Trade Review