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
Spread Betting & CFD trading carry a high level of risk to your capital and you can lose more than your initial deposit. Only speculate with money that you can afford to lose. These trading products may not be suitable for all investors so seek independent advice.Video content by Michael Hewson of CMC Markets.