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The inflation in UK for January has fallen under the 2% target of the BOE for the first time since November 2009. The Consumer Price Index has increased with 1.9% y/y with comparison to December of 2% y/y and an expectation of the economist of 2%. The report also showed that the prices has fallen with 0.6% compared to December, which is also the biggest monthly fall since January 2009. The BOE expect the inflation to be close to the target of 2% and will keep the interest rate of 0.5 to stimulat…
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GBPUSD
Last week the US dollar was supported by the new tapering of stimulus. The USDX raised to 81.31. The US economy seems to be recovering and the dollar may become even stronger.
On the other hand on a daily chart the GBPUSD is in strong up-trend and the current fall seems to be a correction as it hasn't broke the EMA50 which serves as a support level since August 2013. But if we have a quick look on the weekly chart we'll see that the pair is consolidating since 2009 and currently is almost at the…
On the other hand on a daily chart the GBPUSD is in strong up-trend and the current fall seems to be a correction as it hasn't broke the EMA50 which serves as a support level since August 2013. But if we have a quick look on the weekly chart we'll see that the pair is consolidating since 2009 and currently is almost at the…
GBPUSD and US data on 23.01
The British Pound remains bullish as yesterday it closed up for 4th day in a row. Currently the GBPUSD is testing the R2 Pivot point on 1.6615. At 13:30 GMT time the US Unemployment Claims data will be released. Last month the data were 326k and the current expectation is 331k. If the expectation is not met R2 may not resit and a test of R3 may be in place at 1.6635. If US data meet or exceed the expectation the pair will fall and test S2 or S3 at 1.6584 - 1.6554, but the trend should remain bu…