Weird times – but good to learn about trading, while all this is going on.

The Royal Bank of Australia (RBA) cut its rate by 100 basis points this morning- the fifth consecutive cut by the RBA.

Thursday will have a similar deal – the European Central Bank (ECB) and the Bank of England announce their interest rates. The ECB is forecast – only forecast – to keep things the same, resisting any pressure to cut – which the larger members of the EU, France, Germany, would prefer – but others, Portugal, for example are dead against it.

Ireland needs some rate cut just to try and get a bit of investment and trade moving. It might go down 25bp, in which case EUR/USD should spike on the news event.

GBP The Bank of England is forecast to cut again, maybe 50bp – and they really can’t go much further than that – if this doesn’t work, there’s no more room to move…

One thing is certain – prices are going to carry on swinging, so get your positions set and ready…