24.04.2014 - The pound cannot choose the direction
Traders expect new signals on the British pound. At present time the price rebounded from the lower limit of the corridor 1,6770-1,6840 and grows within this range. Yesterday was published the minutes of the meeting of the Bank of England that took place on April 9, which states that the country's economic recovery is gaining momentum and the unemployment rate has been steadily decreasing. Particular attention was paid to the fact that significantly increased the number of self-employed people.
Negative for the market was the message that the balance of production orders in the UK fell to -1, against an expected growth to 7. Today the course of trading will be affected by data on retail sales (10:00 GMT).
Taking into account the strong macroeconomic indicators in the UK, we expect continued growth of pound in the medium and long term with the targets near 1.70.
Wish you the profits!
FXFINPRO Capital Analytical department.