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Forex Flash: Gilts remain entrenched in 114.60-116.60 range – RBS

According to Technical Markets Strategist Dmytro Bondar at RBS, “The price of Gilts has dipped to the 114.86 region, but found support at the 123.6% projection from the December-January impulse wave. From the safe havens, Gilts look increasingly less attractive as the overall bias remains for a range of 114.60-116.60 with a possible recovery towards 117.80 if the latter is ruptured. However, this is unlikely to happen in the near-term – for the week, we favor a range trade between 114.60 and 116.60. A break of the 114.58 level triggers a move down towards 114.00 and eventually 113.14. Conversely, an upside break points to recovery towards 117.82.”

UK: Industrial Trends Survey – Orders up to -14 in February

UK Industrial Trends Survey – Orders contraction slowed down to -14 points in February, from -20 points registered the previous month, according to data released today by the Confederation of British Industry. This result is slightly better than than the consensus of -15 points.
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Forex Flash: Central bank transparency not embraced by ECB – UBS

According to Research Analyst Garth Berry at UBS, “The BoE may be moving further in a dovish direction, however the market is making part of that determination based on incoming Governor Carney's general commentary, while we believe that policy volatility is not being fully priced into options markets.”
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