Week of Central Banks

This week is probably the most important from the financial point of view in the month. I hope you know why. Three major banks are going to release their interest rate decisions. It starts with Federal Reserve tomorrow at 18:00 GMT and goes on to Thursday with Bank of England at 11:00 GMT, followed by European Central Bank at 11:45 GMT. Markets could start moving sharply even before the FED as Gross Domestic Product of US will be announced on Wednesday at 12:30 GMT. However, do not be too much involved in that. I would recommend closing your positions before FED announcement. It may reverse anything.

It could be the key event of the week as ECB will not have press conference meeting following its’ announcement this time (it usually has). And again, the next day the picture might change again when Bank of England and ECB will publish their decisions. So, have light positions or even close them tomorrow. It is very risky to head into these kinds of events fully loaded. I experienced it myself on a number of occasions and do not want to repeat the same mistakes again and again. It is good to learn to take advantage of these kinds of events, not to lose money on them. Hope that helped!