Pound Sterling (GBP) is up 0.2% in silent trade, surpassing most of the G10 currencies before the Na session on Monday, the chief strategist of the FX scotia, Shaun Osborne.
CBI feeling better than expected
“The figures for CBI feelings were slightly better than expected but still negative on the whole and at the lower end of their recent historical ranges. There is no major data press releases before the political decision of the Bank of England.”
“The markets assess 26.5 billion in softening (more than one complete cut) and prices just over 90 BPTS of cumulative relief by December. The BOE will also publish its ratio of inflation of the Lates, as well as a new set of forecasts which will provide an overview of the bank's opinions on the economic impact of USE prices.”
“The optimistic trend of GBP / USD is intact and seems to be maintained despite the withdrawal last week. The RSI is optimistic and hovers well above 50 in the mid-1960s. Short-term support was expected in the middle / lower of 1.32 and resistance is expected above 1,3400.”
