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The pair extends its ascent into the sixth straight day and to new 24 year highs, as markets gear up for today’s Fed minutes and Thursday’s US CPI inflation update
Given our previous articles referencing the BoE's efforts to stabilise the UK gilt market, Governor Bailey's comments yesterday were counterproductive. At the Institute of International Finance event in Washington yesterday, he took a tough line that added to the market's volatility.
This resilience is despite further action today by the BoE to stabilise British gilts. The central bank broadened its emergency bond-buying to include inflation-link gilts to keep markets functioning normally.
The pair comes from a poor week and the new one started in similar fashion, amidst Russia-Ukraine escalation and renewed Fed hawkishness, ahead of Thursday’s CPI inflation from the US
The BoE has announced an increase in its daily gilt purchases and will implement measures to ensure calm prevails as its emergency bond-buying programme winds up. The central bank intervened in the bond market after the government's mini-budget sparked a sell-off, threatening the UK's pension sector. The emergency intervention is due to end on Friday, 14 October.
Should you trade exotic currency pairs? The chances are that you'll have built your trading success upon a clearly defined, robust strategy with which you're familiar and comfortable. It's an approach that makes plenty of sense, especially when you're finding your feet. But that's not to say that you shouldn't consider alternative options – and trading exotic currency pairs could be an avenue worth exploring. As with any trading decision,…
The cc is a meaningful 87 on the daily chart. As such, if the real rate has charted a higher trough, we would expect dollar strength to follows. As such, we are monitoring the green sideways arrow - if the price closes above, the greenback may also have charted its higher trough. This will be bullish, creating a potential foundation for USDOLLAR's next impulse move up.
The pair finds stability after last week’s intense price action, as the UK Chancellor confirmed that he will not go ahead with the abolishment of the top tax rate bracket
A bearish turn of the EMAs and stochastic (black ellipses) at this confluence may prove problematic. If the stochastic crosses and heads towards the 20 levels, the pressure will be building downwards. Moreover, if it reaches and maintains (red arrow), GBPUSD will be in danger of another leg down.
The pair runs its seventh straight profitable week, as markets brace for today’s PCE inflation from the United States
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