The pound fails to break through
17.12.2014
On Wednesday, the British Pound traded slightly downward, but fundamentally the situation in the GBP/USD pair has not changed for a long time. The instrument remains near the top of the medium-term trade channel, but it has no power to break through the bar.
Today the minutes of the last meeting of the Bank of England were published. In the document, in general, everything remains exactly the same as a month earlier. The monetary politicians at the last meeting voted in favour of the rate in the ratio of 7 to 2, including the "hawks" - Will and McCafferty.
The minutes noted that the fall in commodity prices can support the British economy and increase income levels. Interest rates need to work in containing the real estate market slump. No sharp dip in inflation is expected, but nevertheless, the CPI may well go under the 1% mark.
Today came out a block of data on the labour market in the UK. According to statistics, the number of claims for unemployment benefits in November decreased by 26.9 thousand with an expected decline of 19.8 thousand. The unemployment rate, according to calculations by ILO, in October was 6.0%.
There could have been a small extra touch, almost invisible to ordinary people, but very important to the market - understanding the monetary policy horizon, at least a dotted line, dashed line at least ... But the BoE never plays with the market, it just does its job.
RoboForex Analytical Department
Today the minutes of the last meeting of the Bank of England were published. In the document, in general, everything remains exactly the same as a month earlier. The monetary politicians at the last meeting voted in favour of the rate in the ratio of 7 to 2, including the "hawks" - Will and McCafferty.
The minutes noted that the fall in commodity prices can support the British economy and increase income levels. Interest rates need to work in containing the real estate market slump. No sharp dip in inflation is expected, but nevertheless, the CPI may well go under the 1% mark.
Today came out a block of data on the labour market in the UK. According to statistics, the number of claims for unemployment benefits in November decreased by 26.9 thousand with an expected decline of 19.8 thousand. The unemployment rate, according to calculations by ILO, in October was 6.0%.
There could have been a small extra touch, almost invisible to ordinary people, but very important to the market - understanding the monetary policy horizon, at least a dotted line, dashed line at least ... But the BoE never plays with the market, it just does its job.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.