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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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UK MPC votes and average earnings today

Article By: ,  Financial Analyst
January 21, 2015 9:49 AM

The USD/JPY has given up all of yesterday’s gains after the Bank of Japan cuts it near-term inflation, but leaves key easing policy unchanged. At the time of writing, it’s trading 117.50 a fall from 118.84 as its high.

The Kiwi also made some big moves just before the close as the CPI data comes in at -0.2% softer than expected. It’s currently trading 0.7660 a bounce from its low of 0.7629.

Today’s main event is from the UK, with the early morning data on the MPC Official bank rate votes and asset purchases votes. There should be no surprises and we expect to see a split of 7-2 on rates staying at 0.5% and a unanimous vote to keep asset purchases as they are. Average earnings index are also due up and expected to rise to 1.7% from 1.4%, which should help with the recent strength in the pound as it affects how the market sees inflation progress. Currently GBP/USD is trading at 1.5160.

The Bank of Canada will announce its rate decision today which is expected to be at 1%, with a recent sell-off in the CAD due to a possible signal of rate cuts rather than a rate rise for the BOC. Currently USD/CAD is trading at 1.2080.

 

 

USD/CAD

Supports  1.2000-1.1895-1.1840    | Resistance  1.2170-1.2220-1.2320

 

 

USD/JPY
Supports  117.25-116.80-116.60   | Resistance  119.10-119.60-120.30

 

 

GBP/USD

Supports  1.5070-1.4990-1.4925 | Resistance  1.5210-1.5275-1.5350

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