Plenty of data today from both sides of the Atlantic, starting with UK December Trade Balance at 09:30, expected to show a deficit of £5.5bn versus November’s £6bn. We then have the Bank of England accouncement at midday, which is almost certain to result in no change in interest rates. The minutes of the meeting will be released next week, and should provide further insight into the current thinking of the MPC.
This afternoon in the US the weekly Jobless Claims data is released at 13:30, with 285,000 expected. Wholesale Inventories at the same time.
Our major markets remains relatively unchaged from yesterday.
GBPEUR – Support 1.4535, 1.4500 then 1.4350
Resistance 1.4610, 1.4735
GBPUSD – Support 1.7400, 1.7315
Resistance 1.7512, 1.7800
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