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Feb 8, 2018 Will BoE be Hawkish???

February 8th, 2018

Tonight we got a massive miss on the China Trade Data. The Exports to the US beat estimates slightly , but there was a huge build in imports into China in January. Some could point to buying before the New Years? Either way the offshore Yuan fell hard and Shanghai Futures had a huge drop in Copper and most of the other metals. Bank of England is meeting later this morning. Most are expecting a hawkish tone with up to two members voting for a rate hike. Miners are selling off so far from the weakness in China tonight. Bitcoin is pushing up to the 8500 range even though most Visa Credit Cards can’t be used to buy it through Coinbase and other sites. Futures are going back and forth all night, Kuroda was out speaking about QE for an extended time (Nikeii rallied, our futures popped but faded). As we wait for BoE we are down .26%…for direction, it’s in a Central Banks Hands today…history has hurt us Bears when a Central Bank Meets…we will see if we get Hawks and another move down.

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