BOE Gov Carney Speaks

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Technical Analysis Daily Majors & Minors

  • USD/CHF - The dollar extended gains versus European counterparts and climbed above the 1.0200 level versus the franc, stalling a couple of pips ahead of last week’s 4-year high scored at 1.0216. USD/CHF pierced the 1.02 mark to peak at 1.0213 and continues to trade within a touching distance of its multi-year high. Will we see it break the 4year high?

  • GBP/USD - is trading at 1.5162 and made a high of 1.51 94 and a low of 1.50 78 and down 0.1% on the day. GBP/USD was offered overnight on the back of the UK's inflation results falling to the lowest for over 14 years for the month of December. This was coupled with disappointments in producer prices also giving the biggest fall in 5-years in an annual basis. But how will this trade in today’s session?

Daily Update

  • The euro was pinned near nine-year lows on Wednesday as investors wagered the European Central Bank was just a week away from launching a new stimulus campaign, while concerns about the global economy kept Asian equities subdued.

  • Oil tumbled 5 percent to near six-year lows before recovering ground on Tuesday, and Brent briefly traded at par to U.S. crude for the first time in three months as some traders moved to take advantage of ample storage space in the United States.

  • U.S. stocks ended down slightly in a volatile session on Tuesday, led by a drop in materials and energy shares following further weakness in commodity prices.

  • The World Bank has cut its global growth forecast, warning the US alone cannot drive an economic recovery.

Daily News To Watch

Wednesday, 14th January 2015 Previous Forecast Actual

13:30pm USD Core Retail Sales m/m 0.5% 0.1% USD Retail Sales m/m 0.7% 0.2%

14:15pm GBP BOE Gov Carney Speaks

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