With UK CPI hitting a record low but core prices rising, Michael Hewson suggests that this feeds into the recent narrative from the Bank of England and the possibility of a stronger pound.
  • Despite Greek debt talks remaining acrimonious, the ECB remains unlikely to cut Greece off from the ELA, which points to the euro remaining within its range until a deal comes out
  • GBP/USD may be building a base, with a rising trendline coming in around $1.5320, though a bullish reversal may threaten the move higher
  • Brent crude has seen a significant rebound, with positive candlestick patterns pointing to a reluctance to hold short positions
  • USD/CAD has seen the potential for a topping formation, with strength in the oil markets suggesting that a break below $1.2350 could inspire a sharp pullback
  Video content by Michael Hewson of CMC Markets.