Bank of England (BoE)

USDCAD breaks support The Canadian dollar soared after red hot inflation readings in March. The greenback’s struggle to reclaim 1.2670 suggests a lack of momentum from the buy-side. A fall below 1.2540 triggered a new round of…
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In early March, the FTSE 100 reached a post-pandemic high, practically recovering all of the losses from the prior two years. This was something of a milestone for the index, which had been underperforming since the start of Brexit. But,…
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As central banks take action to fight rising inflation, monetary policy has been one of the largest drivers of forex action lately. Specifically, the difference in interest rates between countries has been driving the markets. That's…
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Chancellor Sunak will be making a speech in the Commons, presenting what is colloquially called the 'spring statement'. It's a sort of "mini-budget", addressing spending concerns at the fiscal half-year mark. The spring statement has…
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GBPUSD attempts to rebound The British pound stalled after the BOE failed to secure a unanimous vote for higher rates. A bullish RSI divergence suggests exhaustion in the sell-off, and combined with the indicator’s oversold…
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Despite two back-to-back interest rate hikes by the BOE, the pound has been showing some weakness recently. That might be the product of current events having more influence than the longer-term trend. Could another rate hike at…
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USDCAD struggles for support The Canadian dollar surged after a sharp drop in February’s unemployment rate. A break above the recent peak at 1.2875 has consolidated the US dollar’s lead. The RSI’s repeatedly overbought condition has…
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USDJPY rises as BOJ stays dovish The Japanese yen softens as global uncertainty takes a toll on its economy. Japan’s high dependency on energy and raw material imports means that surging prices could hurt the economy. The…
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While everyone has been focused on the horrors of the war in Ukraine, the potential economic fallout has been a little ignored. There have been some passing mentions of the wheat prices, but it still appears to be something only niche…
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Monday's market activity will likely depend on Europe. Firstly, because the US and Canada are on holiday. Secondly, we get some key data out of the largest European economies. Generally, PMI figures tend to move market sentiment because…
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