hello trader's what do you think about this analysis ideas ๐ก๐
Sterling at Over 2-Month High Ahead of Hunt's Budget Update
Nov 21, 202314:53 GMT+5
The British pound surged past the $1.25 mark, marking its highest level since early September, in anticipation of Finance Minister Jeremy Hunt's upcoming budget update.
At the same time, expectations of significant rate cuts by the Federal Reserve weakened the dollar.
Meanwhile, surprising data showing a drop in British retail sales and a slowdown in inflationary pressures in the UK have bolstered the belief that the Bank of England might consider interest rate cuts earlier than previously thought in the coming year.
Traders are now forecasting a potential 80 basis point decrease in interest rates by the end of 2024 from the current 5.25%.
However, Bank of England Governor Andrew Bailey cautioned on Monday that discussions about rate cuts were premature.
He suggested that if signs of inflation persisting beyond expectations surface, borrowing costs might have to rise again.
Sterling at Over 2-Month High Ahead of Hunt's Budget Update
Nov 21, 202314:53 GMT+5
The British pound surged past the $1.25 mark, marking its highest level since early September, in anticipation of Finance Minister Jeremy Hunt's upcoming budget update.
At the same time, expectations of significant rate cuts by the Federal Reserve weakened the dollar.
Meanwhile, surprising data showing a drop in British retail sales and a slowdown in inflationary pressures in the UK have bolstered the belief that the Bank of England might consider interest rate cuts earlier than previously thought in the coming year.
Traders are now forecasting a potential 80 basis point decrease in interest rates by the end of 2024 from the current 5.25%.
However, Bank of England Governor Andrew Bailey cautioned on Monday that discussions about rate cuts were premature.
He suggested that if signs of inflation persisting beyond expectations surface, borrowing costs might have to rise again.
ืขืกืงื ืคืขืืื:
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ืืขืจื:
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ืืขืจื:
Following ageen my trade
ืืขืจื:
DXY INDEX retest sell 102.600
ืขืกืงื ืกืืืจื: ืืืขื ืืืฉื:
Wow ๐ฎ๐ณ๐ฎ to target ๐ฏ๐
200+pip's profit)
wait same time retest levels ๐ช old big profit
200+pip's profit)
wait same time retest levels ๐ช old big profit