Analytics

News, Trends, & Analytics 16.01.2020

The Bank of England expects low inflation

Today, the focus is on the forecast of the rate set by the central bank of Norway, the rejection of the Boeing, as well as a warning to the Bank of England.

 

News

A Reuters poll showed that the central bank of Norway is not expected to change the key rate. Affects NOK


Iranian President rejected the possibility of a new nuclear deal with the United States. Affects Brent


Malaysian Airlines refused to accept 25 Boeing 737 MAX aircraft. Affects Boeing


Bank of England official Michael Saunders warned of the risk of low inflation in the country. Affects GBP


The European Commission says Portugal’s budget for 2020 could violate EU fiscal rules. Affects EUR

 

Calendar

12:30 GMT

The minutes of the last ECB meeting on monetary policy will be published. The event may lead to increased volatility in EUR.


13:30 GMT

The publication of the index of production activity from the Federal Reserve Bank of Philadelphia is planned. Experts predict a value of 3.8 points. A deviation up will lead to an increase in USD.


18:00 GMT

ECB President Christine Lagarde will deliver a speech. This event may lead to increased volatility in EUR.

 

Technical Analysis

GBP/USD

The recent rise in the British currency was the result of a conservative victory in the December parliamentary elections, ending the Brexit intrigue. Prime Minister Boris Johnson has achieved his goal and in late January, Britain will begin the process of leaving the EU.

However, warnings from the Bank of England about the risk of lower inflation signal potential problems in the economy. Therefore, the currency pair may soon reach the level of 1.22000. This has already been indicated by lowering fractals on the chart.

Dash

The cryptocurrency added more than 30% in the last day, however, from the point of view of technical analysis, the bullish mood can continue to the level of 150.

NZD/CAD

The asset completed the Head and Shoulders reversal pattern. In the near future, we expect a breakdown of the level of 0.86000 and further decline.

 

GBP/USD on this day

  • Since 2000, January 16th was a trading day 15 times.
  • On 40% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 0.61%.
  • The downward trend was limited to 1.31%.
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