{"id":37372,"date":"2022-09-29T09:48:07","date_gmt":"2022-09-29T06:48:07","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=37372"},"modified":"2025-10-13T12:56:06","modified_gmt":"2025-10-13T09:56:06","slug":"bank-of-england-steps-in-to-purchase-long-dated-uk-bonds","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/en\/bank-of-england-steps-in-to-purchase-long-dated-uk-bonds\/","title":{"rendered":"Daily Key points: US final GDP rates for Q2 anticipated"},"content":{"rendered":"\n<p>Today we highlight the release of US final GDP rate for the second quarter and the market will be looking closely for any setbacks in regards to the growth trend of the US economy. According to forecasts the final GDP rate for Q2 is expected to remain steady at -0.6%. Given the estimate, should the rate remain in the negatives for a second consecutive quarter as the preliminary rates showed, that would signal that the US is already in a recession, thus it could weaken the USD. On another note, Fed policy makers continue to reiterate their hawkish rhetoric towards taming inflationary pressures. Yesterday, Atlanta Fed President Bostic stated that he sees another 75-basis points raise for November\u2019s meeting. We also note the scheduled speeches by Cleveland Fed President Mester and San Francisco Fed President Daly later today with markets looking for any deviation in the narrative. Moreover, the Weekly Initial Jobless claims figure is also expected today, which is set to increase to 215k compared to last week\u2019s 213k figure and could weigh down on the dollar. Nonetheless, overall, the figure remains stable, indicating relative tightness in the US labour market.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Bank of England steps in to purchase long dated UK bonds\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/aAsQQMHG87A?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-loonie-traders-await-canada-s-gdp-rate\">Loonie traders await Canada\u2019s GDP rate<\/h2>\n\n\n\n<p>CAD has been under significant pressure recently as the dollar continues to strengthen amidst a period of high uncertainty, elevated inflationary pressures and prospects of recession. The month-on-month GDP rate for July is expected to contract to -0.1% compared to the 0.1% of the previous month, signaling potential recession worries for the Canadian economy. Should the GDP rate for July slowdown to stagnation levels or even decline into the negatives, showing a contraction of the Canadian economy we may see the Loonie fall.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-germany-s-hicp-rate-give-update-to-inflationary-problems\">Germany\u2019s HICP rate give update to inflationary problems<\/h2>\n\n\n\n<p>The EUR strengthened yesterday against its major counterparties and the market braces for the inflation print out of the Germany. Euro traders will be looking closely at the year-on-year preliminary HICP rates for September and according to forecasted data, rate is expected to rise to 10% compared to the 8.8% of the previous month. Should the actual rate meet the forecast, we may see Euro strengthening, as it could indicate that inflationary pressures remain elevated with no signs of easing, thus it could force the ECB to opt for a bigger rate hike.<\/p>\n\n\n\n<p>GBP\/USD choppy price action continues after a volatile session and is currently found near the 1.0815 (R1) resistance level. We maintain a sideways bias, given the return of the price action between 1.0815(R1) and 1.0630 (S1) levels and the RSI indicator points to a reading of 46 showcasing slight indecision. Should the bears regain control over cable we may see it breaking the 1.0630 (S1) support line and aim for the 1.0525 (S2) support level. On the flip side should the bulls take over, we may see the pair breaking the 1.0815 (R1) resistance line and then challenge the 1.0927 (R2) level.<\/p>\n\n\n\n<p>Yesterday, USDIndex fell sharply from its highs but quickly regained its footing today. We maintain our bullish bias for the dollar given the ascending trendline initiated on the 20<sup>th<\/sup> of September. The RSI indicator point to a reading of 53 after its rebound, possibly signaling slight indecision. Should the pair encounter buying orders we may see it breaking 113.70 (R1) line and aim for the 114.70 (R2) resistance barrier. Should a selling interest overwhelm, we may see the definitive break below of the ascending trendline, the 112.50 (S1) line and move close to the 111.50 (S2) support level.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\">Other highlights for the day:<\/h2>\n\n\n\n<p>Today we note the from the Czech Republic the CNB\u2019s repo rate decision, and scheduled speeches by ECB Vice president de Guindos, ECB board member McCaul and ECB\u2019s Chief economist Lane. We also highlight China\u2019s NBS and Caixin manufacturing PMI figures both for September and Japan\u2019s Industrial Output growth rate for August, both released during tomorrow\u2019s Asian session.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-gbp-usd-h4-chart\"><strong>GBP\/USD H4 Chart<\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"455\" src=\"\/wp-content\/uploads\/2022\/09\/image-131.png\" alt=\"support at one point zero six three zero and resistance at one point zero eight one five , direction sideways\" class=\"wp-image-37373\" title=\"gbp-usd -four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 1.0630 (S1), 1.0525 (S2), 1.0395 (S3)<\/p>\n\n\n\n<p>Resistance: 1.0815 (R1), 1.0927 (R2), 1.1065 (R3)<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-usdindex-h4-chart\"><strong>USDIndex H4 Chart<\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"455\" src=\"\/wp-content\/uploads\/2022\/09\/image-132.png\" alt=\"support at one hundred and twelve point fifty and resistance at one hundred and thirteen point seventy, direction upwards\" class=\"wp-image-37374\" title=\"usdindex -four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 112.50 (S1), 111.50 (S2), 110.46 (S3)<\/p>\n\n\n\n<p>Resistance: 113.70 (R1), 114.70 (R2), 115.70 (R3)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"2013\" height=\"484\" src=\"\/wp-content\/uploads\/2022\/09\/image-133.png\" alt=\"\" class=\"wp-image-37375\" title=\"benchmark-29-08-2022\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1018\" height=\"549\" src=\"\/wp-content\/uploads\/2022\/09\/image-134.png\" alt=\"\" class=\"wp-image-37376\" title=\"table-29-08-2022\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"713\" height=\"785\" src=\"\/wp-content\/uploads\/2022\/09\/image-135.png\" alt=\"\" class=\"wp-image-37377\" title=\"morning-releases-29-08-2022\"\/><\/figure>\n\n\n\n<p>If you have any general queries or comments relating to this article please send an email directly to our Research team at <a href=\"mailto:reseach_team@ironfx.com\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Disclaimer:<br>This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today we highlight the release of US final GDP rate for the second quarter and the market will be looking<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-37372","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Forex blog - IronFX\u2122 | The Global Leader In Online Trading<\/title>\n<meta name=\"description\" content=\"Today we highlight the release of US final GDP rate for the second quarter and the market will be looking closely for any setbacks.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/en\/wp-json\/wp\/v2\/posts\/37372\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Key points: US final GDP rates for Q2 anticipated\" \/>\n<meta property=\"og:description\" content=\"Today we highlight the release of US final GDP rate for the second quarter and the market will be looking closely for any setbacks.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-id.com\/en\/bank-of-england-steps-in-to-purchase-long-dated-uk-bonds\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-29T06:48:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-13T09:56:06+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/bank-of-england-steps-in-to-purchase-long-dated-uk-bonds\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/bank-of-england-steps-in-to-purchase-long-dated-uk-bonds\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"Daily Key points: US final GDP rates for Q2 anticipated\",\"datePublished\":\"2022-09-29T06:48:07+00:00\",\"dateModified\":\"2025-10-13T09:56:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/bank-of-england-steps-in-to-purchase-long-dated-uk-bonds\\\/\"},\"wordCount\":741,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/bank-of-england-steps-in-to-purchase-long-dated-uk-bonds\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/bank-of-england-steps-in-to-purchase-long-dated-uk-bonds\\\/\",\"name\":\"Forex blog - IronFX\u2122 | The Global Leader In Online Trading\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/#website\"},\"datePublished\":\"2022-09-29T06:48:07+00:00\",\"dateModified\":\"2025-10-13T09:56:06+00:00\",\"description\":\"Today we highlight the release of US final GDP rate for the second quarter and the market will be looking closely for any setbacks.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/bank-of-england-steps-in-to-purchase-long-dated-uk-bonds\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/bank-of-england-steps-in-to-purchase-long-dated-uk-bonds\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/bank-of-england-steps-in-to-purchase-long-dated-uk-bonds\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Daily Key points: US final GDP rates for Q2 anticipated\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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