This week the GBP has shown some strength with the BOE expressing that they are not looking at cutting rates this year, rather they will focus on a rate hike in 2016. This came as somewhat of a surprise as globally all central banks are facing deflation on the back of weak oil prices.

Nevertheless, the news failed to take out highs in GBPCAD



The chart above shows the price action during the BOE press conference. Not only did it not take out highs outlined by the eclipse, it also retraced back to lows quite rapidly.

Goes to show how strong the CAD has been on the back rising oil as of late.


Have a good weekend all!
Übersetzen in Englische Sprache Zeige Original

Da Sie nicht eingeloggt sind, kennen wir Ihre gesprochene Sprache nicht, nehmen jedoch an es ist Englische Sprache
Bitte loggen Sie sich ein oder wählen Sie eine andere zu übersetzende Sprache aus der Liste.

– oder –