5month12Daily Market Review: Trading Strategies for GBP and Ruble

foreign exchangemarket

pound/The US dollar experienced a significant decline yesterday. Bank of England Governor Carney has made it clear that the UK is not prepared for a delayed or disorderly exit from Europe. The market has responded strongly to this, with GBP/The US dollar immediately fell to1.2849. In addition,cardNi also confirmed that the current monetary policy remains unchanged. The Bank of England has only one representative who supports interest rate hikes, and he will also6Month leaves. This representative supports interest rate hikesWhat is the reason for this? Because he is concerned about the worsening inflation problem. Last year, the inflation rate in the UK increased from0.2%Increase to2.3%The fundamental reason is the depreciation of the pound. Next week, the UK will release the latest inflation data,andinflationPressure will driveConsumer Price Index for Residents（CPI）The price has risen. This means that the current low point is precisely the entry to long the pound/The good timing for the US dollar lies in its price range1.2940。

Ruble prices closely followcrude oilPrice fluctuations. Today, USD/The ruble is highly likely to stabilize the exchange rate at57.00Below. Investors should be aware that market sentiment has already changed. The current marketBullishCrude oil. Why do you say that? Although previouslyOPECThe news released by the authorities was bearish for crude oil, but the market's response to this was lackluster. according toOPECThe latest monthly report shows that it has significantly increased its focus on AfricaOPECNational production expectations:2017Expected increase in annual productionto9510000 barrels/Day, compared to4The expectations for the month have been higher than expected64%. In fact, the current production expectations have exceeded2016year11Monthly expectations are higher than expected4At that time, a production reduction agreement had just been reached. But even in this context, the price of oil cloth does not decrease but instead rises, rising to51.15. Therefore, the US dollar/The ruble is highly likely to continue its decline, and the next target price is56.60。

For reference only!