News to trade on October 23

News to trade on October 23

  • The main focus for today will be on the speech of the Bank of England governor Mark Carney in Toronto at 18:20 MT time. He can make some comments regarding the monetary policy. Yesterday new uncertainties around the Brexit pushed the British pound down. Despite the British Prime Minister Theresa May’s comments on the reaching final compromise, Eurosceptics within the UK parliament and the members of the Democratic Unionist party of Ireland will try to make illegal the solution proposed by European Union.

As a result, GBP/USD crossed the psychological support at 1.3 yesterday. For now, the pair is testing the resistance at 1.2969.

If Carney’s comments are hawkish, GBP/USD can stick above 1.3 targeting the next resistance at 1.3103. More bad news on Brexit will push the pair down to the support at 1.2877.


  • The Italian Prime Minister Giuseppe Conte said Italy would adjust measures in the market if the spread between the Italian and German 10-year bond yields continues to widen. For now, EUR/USD is trying to recover. Positive news for the EUR will help the pair to stick above the resistance at 1.1521. Otherwise, it will fall below the support at 1.1421.


  • Japan government maintains the modest pace of economic development. However, Japan downgraded the exports assessment following global trade tensions. At the moment, USD/JPY is falling towards the support at 112.00 (50-day MA). If the USD gains, the pair will be able to rise above the resistance at 112.97 to the next resistance at 113.41.


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German Ifo Business Climate
German Ifo Business Climate

Germany, the leading economy in the Euro Zone, will reveal one of the key economic indicators – German Ifo Business Climate on September 24 at 11:00 MT time.

Latest news

Turkey has Decreased Interest Rates, But is it a Buy?
Turkey has Decreased Interest Rates, But is it a Buy?

Turkey’s central bank governor was at a crossroads: to hold interest rates and take a risk to be fired like it was for three governors before him, or to comply with the president, to cut rates, and to risk the market. Let’s find out, how to react to the rate cut.

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