Free Trial

Gets pulled lower by Eur/Usd slippage, the....>

CABLE
MNI (London)
CABLE: Gets pulled lower by Eur/Usd slippage, the rate finding support around
$1.3240 but Eur/Gbp taking over the downside pressure (as it extends its
intraday lows to Gbp0.8870, allows cable to bounce back to $1.3255. All focus on
today's release of UK CPI, median forecast for headline CPI to come in at
3.0%yy(last 2.9%yy) to see if it provides further support to the expectation
that the BOE MPC will hike rates at their Nov meeting. A rate hike is definitely
in the pipeline, now just a question of timing. A 25bp hike will correct the
emergency cut made following the Brexit referendum result, market will then very
quickly turn their attention to the future rate path. Support $1.3225/20 ahead
of $1.3185/80. Resistance $1.3290/1.3300. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.