UK CPI results is just the beginning of major volatility in the GBP/USD currency pair ahead of the Scottish vote this Thursday

Technical Analysis Daily Majors & Minors

• GBP/USD is stuck midrange between Fibonacci levels on Monday, ahead of a string of key UK releases including CPI readings and BoE meeting minutes. But how will the market react upon market news release? 

• Currently, EUR/USD is trading at 1.2935, down -having posted a daily high at 1.2974 and low at 1.2909. But how will the market trend and react today? 

Quick Daily update

• Mojang, the Swedish firm behind the popular video game Minecraft, is bought by Microsoft for $2.5bn (£1.5bn). How could this effect the Microsoft share price? 

• A slow recovery among nations using the euro is holding back the global economy, the Organisation for Economic Co-operation and Development says. 

• Retailer Phones 4U has gone into administration putting 5,596 jobs at risk, as network provider EE joins Vodafone in not renewing its contract.

Daily News To Watch 

Tuesday, 16th September 2014 Previous Forecast Actual

9:30am

GBP CPI y/y 1.6% 1.5%

10:00am

EUR German ZEW Economic Sentiment 8.6 5.2

13:30am

CAD Manufacturing Sales m/m 0.6% 1.1%

USD PPI m/m 0.1% 0.1%

17:45pm

CAD BOC Gov Poloz Speaks

By Nikhil Pankhania

Senior Market Analyst & Trader