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11:48

FXstreet.com - Good morning, good afternoon and good evening to everyone all over the world. Today's BoE Interest Rates Decision Live Coverage will start in 10 minutes. I am really happy to introduce Valeria Bednarik who is going to take part in this live event today as a co-presenter. She will be giving us a direct picture fo the market status.

11:48

FXstreet.com - Valeria Bednarik has been an active Forex trader for the last 3 years, specializing in the International Foreign Exchange Market. She also graduates in the Universidad Catolica del Salvador, in Argentina, as a Public Account, specializing in financials and cost managements. She currently manages an important clients portfolio for IFX Markets, Boston and is senior trader manager at Molfx-Management; besides she works training new traders with Trader College LLC specializing in technical analysis, for the English speaking community.

11:49

FXstreet.com - The BoE is widely expected to cut the ongoing interest rates by 50bps to 1.00% that would be the lowest rate in the bank's history since it was establish in 1869. we have seen a deterioating economic situation where decreasing GDP and surging jobless claims are still fresh in our minds. Today we have to pay close attention whether or not selling pressure on the Pound will emerge again. Regarding to the ECB, the market forecast the ECB to hold the ongoing interest rate unchanged at 2.00%. Yesterday the EUR/USD was sharply sold off at 1.3070 to support at 1.2790. Currently the pair is moving sideways above 1.2800 level, in a range of 100 pips. It will be important to determine how the ECB considers the current economic situation if the ECB holds the key rate unchaged. A hawkish view would boost up the EUR/USD towards the resistance 1.3070 level, on the hand, a dovish view would drag the pair down below 1.2700 level. Trichet speech is scheduled at 13:30GMT.

11:50

Valeria Bednarik - Hi everybody and welcome!

11:50

[Comment From aea]
hi

11:51

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11:51

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11:51

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11:51

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11:51

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11:51

Valeria Bednarik -

True waht moderator says: British economy is expected to contract more tha a 3% during this year. Last two rate cuts gave us some huge movements to the upside in Gbp, of around 200 pips.. only to fall harder from there in the next days.

11:52

[Comment From Neil]
Hi

11:53

FXstreet.com - hi everybody,, let me know your opinion about the BoE decision... Meawhile voting the vole.. let me also introduce Valerica's blog

11:53

FXstreet.com - The Advisor Blog by Valeria Bednarik

11:54

[Comment From mark storey]
Valeria as the BOE is a done deal should we be intrested ECB more than the BOE

11:54

[Comment From Andrew]
Hello, thanks for covering this.

11:55

[Comment From CVJ]
Hi Val! ..Great to see you again!... after talking to you two minutes ago... :-) I thought I would stop in for a visit!...

11:55

Valeria Bednarik - Hi Mark! I don't think so. Gbp will probably react with huge movements despite the done deal.

11:55

Valeria Bednarik - But we will have to wait a couple hours to see it settle down, and decide if really define a trend from there

11:55

Valeria Bednarik - Hi Andrew and Tks!

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