While claimant count change were worse than expected, unemployment rate improved which meant Cable higher. The UK has been looking for a rate below 7% at least but even if that is reached, the BOE will probably not act upon the info and would wait for further data especially employment data. i would be careful with Cable around here. It might look very bullish but already a large number of people are short and at one point there wouldnt be any buyers left leading to lower prices. Other than that, majors are mixed across the board with no clear direction. Metals remaining under pressure with Gold likely to test 1230-35. Break below is more bearish. BOC rate decision and statement this afternoon which should have a big impact on the Canadian Dollar with the pair reaching new highs and has been moving higher for months now.
Posted on: Wed, 22 Jan 2014 10:52:07 +0000
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