Earn on Bank of England Head speech
August 7 2016, at 13:15 GMT, Bank of England Head Mark Carney will hold a speech of a crucial importance since after Brexit traders have closely been monitoring GBP-related news.
Most investors expect monetary policy to be moderated, which may be one of Mr. Carney’s topics. If he declares quantitative easing or gives a hint, GBP will be subjected to pressure and may drop 170 points!
GBPUSD is traded around 1.33 at the moment. If expectations are met the currency pair may potentially move 170 points (1 700 with the 0.00001 quoting accuracy).
- Opening a 1 lot GBPUSD positions requires $1330: 100 000 (standard contract volume) x 1 lot (contract size) / 100 (leverage*) = £1000 x 1.33 (GBPUSD rate) = $1330;
- The profit from 1 lot may make $1 700: 0.00001 (quoting accuracy) x 100 000 (contract volume) x 1 700 (drop potential) = $1 700.
Thus, a 5 lot position may get the profit of $8 500 with $6 650 of invested funds, which makes 127.8% a day! (With the leverage of 1:100)
To take advantage of the news you are supposed to create a trading account if you have none, download a trading platform and open a position. For more details please contact your personal manager (dial +7-495-785-9669).
*For deposits over $50 000. Margin requirements