The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
EUR/USD: euro goes to July highs
2019-11-11 • Updated
Technical levels: support – 1.1660; resistance – 1.1720.
- Sell — 1.1660; SL — 1.1680; TP1 — 1.1600; TP2 – 1.1540.
Reason: bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen; the market reached the July’s local highs and may start correctional movement to Cloud.
On Wednesday, the US dollar weakened in anticipation of the US CPI data, which could influence market exposure. A Bloomberg survey predicts a year-on-year read of 5.0% to the end of April. Market sentiment is affected by the US debt ceiling and issues with regional banks. While the major APAC equity indices are...
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