Forex News from New Forex: Pound sterling hit a 2-week high
On July 14 the pound sterling advanced to a 2-week high against the US dollar after the decision of the Bank of England to keep the interest rate at 0.5%. The pair pound/dollar surged 1.85% to 1.3388 today. The pound picked up 1.20% against the euro to 0.8327.
At the meeting of the Bank of England eight out of nine members of the Monetary Committee voted to hold the interest rate unchanged at 0.5% instead of an expected decrease to 0.25%. However, it was claimed in the report that the Committee will return to the question of the interest rate cutdown this August. It was also mentioned that the decision of the UK to the leave the EU might weaken the economy and expose the housing market to a risk.
European indexes reacted with a rise after the report of the Bank of England. The pan-European STOXX 600 added 0.78%, the UK’s FTSE climbed 0.07%, the German DAX gained 1.26%, the French CAC 40 edged up 1.04%.
NewForex Analyst
Michael Butnitsky
Forex News from New Forex: Technical analysis of EUR/USD
In the trading on Thursday, July 14, EUR/USD keeps trading in a wide side channel. As we see on a 5-minute chart today, the pair trades within support at 1.1085 and resistance at 1.1130. This type of trading will continue until there is some certainty over the procedure of Brexit and it consequences.
Today’s outcome of the Bank of England meeting over the interest rate will definitely influence on the sentiment of the pair EUR/USD. The result might exert considerable pressure on the euro.
NewForex Analyst
Luigi Campo
On July 14 the pound sterling advanced to a 2-week high against the US dollar after the decision of the Bank of England to keep the interest rate at 0.5%. The pair pound/dollar surged 1.85% to 1.3388 today. The pound picked up 1.20% against the euro to 0.8327.
At the meeting of the Bank of England eight out of nine members of the Monetary Committee voted to hold the interest rate unchanged at 0.5% instead of an expected decrease to 0.25%. However, it was claimed in the report that the Committee will return to the question of the interest rate cutdown this August. It was also mentioned that the decision of the UK to the leave the EU might weaken the economy and expose the housing market to a risk.
European indexes reacted with a rise after the report of the Bank of England. The pan-European STOXX 600 added 0.78%, the UK’s FTSE climbed 0.07%, the German DAX gained 1.26%, the French CAC 40 edged up 1.04%.
NewForex Analyst
Michael Butnitsky
Forex News from New Forex: Technical analysis of EUR/USD
In the trading on Thursday, July 14, EUR/USD keeps trading in a wide side channel. As we see on a 5-minute chart today, the pair trades within support at 1.1085 and resistance at 1.1130. This type of trading will continue until there is some certainty over the procedure of Brexit and it consequences.
Today’s outcome of the Bank of England meeting over the interest rate will definitely influence on the sentiment of the pair EUR/USD. The result might exert considerable pressure on the euro.
NewForex Analyst
Luigi Campo