Thursday brought 3 profitable opportunities for traders

Today is a busy day for traders, as important events will occur immediately in the three leading economies of the world.

In Britain today is the day of parliamentary elections: citizens will come to polling stations to cast their vote for a particular political party. The pound sterling rate will react sensitively to the exit poll results and any news regarding the elections. At the moment, the value of the GBP is a potential victory for the Conservatives, and if the election results are different, that is, the Labor Party will win, the pound’s rate will rapidly fall. If the Conservatives do not win a majority, it will be seen as a bearish pound, as the parties will have to form a coalition, which entails additional political risk as uncertainty grows.

In Europe, the ECB will issue a minimum interest rate with a preliminary forecast of 0%. Later the press conference of the bank will take place, which will raise the issues of the current euro-zone economy, as well as possible changes in the monetary and credit policy in the future. If the head of the ECB Mario Draghi poses a positive tone, noting the need for an end to stimulation and a quantitative easing program – the euro’s rate will rise against the major currencies. The more pessimistic mood of Draghi and the continuation of the ECB’s intervention in economic processes will lead to a rapid fall in the rate of the single currency.

In the US, the former head of the FBI, James Komi, will address a special committee of the Senate of the US Congress today. If the Komi testimony puts Trump in an even more negative light, the US dollar and US assets will respond appropriately. In the current unstable circumstances, the president will not be reduced to tax cuts and relaxation of regulation, so these projects will be postponed for an indefinite period.