The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
British banks have 2m clients stuck in ongoing overdraft
In Great Britain, more than 2 million clients are stuck with everlasting overdrafts. Many of them have found themselves trapped in a so-called “vicious cycle” of borrowing. That’s what a debt charity StepChange informed on Wednesday.
As StepChange told, it had also revealed solid evidence of unaffordable lending in the UK overdraft market as well as cases where financial institutions hadn’t managed to provide their clients with an effective means to deal with their debt.
The charity’s fresh report actually follows changes to overdrafts by some of the country’s biggest banks, and also a highly critical report released by the Financial Conduct Authority that suggested that unauthorized overdrafts could be banned sooner or later.
According to the StepChange report, up to 2.1 million people were overdrawn on a regular basis, moving to the red every month last year.
Overdrafts appear to be one of the most widely employed credit products. The StepChange found out that almost 13 million customers have been overdrawn for the last 12 months.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…