ECB Monetary Policy Meeting this Thursday could provide the driver to push EURGBP into a move with conviction. If not, then how the pair closes by end of January should provide a clue for February. This zone is a significant support coming to five months.
There is certainly a technical resistance there. We need just a price-turning event. With BOJ monetary policy announced tomorrow and ECB this Thursday, there are two chances for a ‘mover and shaker’ to come out with a price turning story.
“There is a long-standing myth that the interest rate market follows the Central Bank but in truth the evidence over a long time shows the opposite. Central Banks follow the market.”
USDCAD at decade-long resistance-turn-support. What are prospects of breaking this level in conjunction with second rate hike? Retracement before that?
FB poll among Singapore stock market investors show most favour buying stocks if interest rates go to negative. This rush to yield explains why stock markets are rallying.