The UK national income could lose 6% by 2030 if the UK really leave the EU in a referendum on Brexit of 23 June. In late hours Ministry of the Treasury’ s report of 200 pages, anticipated by the media and already contesato by Eurosceptics, has released the alarm. The traces the relationship of Britain shock scenario, hit in its vital business interests and impoverished its people for decades, once consumed the hypothetical divorce from Brussels.
Gold, ready to bounce back • Gold is still located in an uptrend channel. Strong hourly resistance is given at 1284 (11/03/2016 high) while closer hourly supports is located at […]
Both equity markets and the euro are lower on Tuesday after what appears to be a coordinated terrorist attack in Brussels. Belgium is now on its highest terror alert after […]
The impact of Britain’s exit from the European Union would be broadly negative for UK corporates, with the transport, property and leisure industries at most risk along with smaller retailers, Fitch Rating says. In contrast, some exporters would benefit from moderate sterling depreciation, as long as a new trade deal was swiftly negotiated.
The focus today is first on the US CPI release and then the Federal Open Market Committee meeting later. The market is looking for a core CPI reading of +2.2%, unchanged from the January reading. The post-global financial crisis high for a single month was 2.3% back in April, 2012.
The Sterling refuses to edge lower and appears to be headed towards the resistance line above 1.49. However, the Cable is first required to pierce through the supply area at 1.4446, represented by the monthly R1, which limited the pair’s volatility on Friday. The 1.44 psychological level is also playing a part in the pair’s ability to appreciate, thus, due to no impetus present to push the Pound higher today. As a result, a corrective decline is likely to take place, but the bearish momentum could fail to exceed the 1.4345 mark, as the 55-day SMA and the weekly PP are providing immediate support there.
Analisys from Yann Quelenn, Market Strategist @swissquote.ch • GBP/USD has broken hourly support at 1.4150 (29/01/2015 low) and 1.4081 (21/01/2015 low). The road is wide open to long-term support at […]
The increased uncertainty around the referendum is likely to cause financial and economic volatility and negatively impact growth in the short term. Consequently, the timing and path of rate hikes may also…
