OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: GBP/USD calm after BoE's Bean inflation comment

The GBP/USD spiked higher to 1.5164 as investors cheered EMU confidence data, but 1.5140 is still offering resistance. Worthy of reading is BoE's Bean comments that he is sensible to review UK inflation target. The pair remains little above from the opening price.

Earlier, annualized UK 2012 Q4 GDP growth was revised higher from 0.0% to +0.3% but the quarterly figure came in at -0.3% as forecasted. Total Business Investment contracted -1.2% (QoQ), easing from 5.4% to 0.4% (YoY).

“Near-term studies are negative and see potential for further weakness towards initial 1.5000 target are likely”, wrote Windsor Brokers analyst Slobodan Drvenica. “Upside break above initial 1.5218 barrier, is required to give initial signal, while regain of 1.5300 zone, would sideline near-term bears”, he added.

Italian 10-year yields at highest level since October 2012

The Italian Treasury held the first debt auction after the parliamentary elections on Wednesday during which it sold a total of 6.5 billion euro worth of 5- and 10- year bonds, meeting the maximum target.
Read more Previous

Italian quagmire reveals avid aversion to austerity

The European Central Bank's fail-safe mechanism for the euro's wounded government debt markets has thus far allayed concerns of another fresh round of sweeping creditor strikes. Indeed, ECB chief Mario Draghi's vow from last July to do "whatever it takes" to protect the euro has continually lent confidence to many asset managers that the zone will not be pushed to the edge of oblivion. As such, while stocks and bonds in Italy and across the Eurozone plunged Tuesday, they still remained some distance from crisis peaks.
Read more Next
Start livechat