GBPUSD pair rose sharply following comments from BOE's Saunders, which said that it may become appropriate fairly soon to withdraw some stimulus. Saunders also noted that activity seems to have recovered a bit faster than May forecast. Risks lie on the side that the output gap will close earlier than previously expected. The issue of early QE reduction will be discussed at upcoming meetings.Options to withdraw stimulus include curtailing QE (ending it in the next month or two) and/or further policy action next year. Saunders also stressed that if the bank rate rises in the next year, it is likely that any increase will be relatively limited.
GBPUSD pair jumped from 1.3840 to a session high of 1.3899 and broke above the upper limit of the triangle formation. Upward move may accelerate even further if buyers will manage to break above resistance at 1.3909. Source: xStation5
Daily summary: Weak US data drags markets down, precious metals under pressure again!
BREAKING: US RETAIL SALES BELOW EXPECTATIONS
Politics batter the UK bond market once more, as Starmer remains under pressure
Takaichiâs party wins elections in Japan â a return of debt concerns? đ°âď¸
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr SÄ dowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
