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Thursday, October 17, 2019

Forex Signals Brief for Oct 17

t’s been a huge week in the UK, with a ton of data hitting the wires and the back and forth of Brexit negotiations.
Yesterday, the headlines were coming thick and fast with many suggesting that a deal between the Euro and UK was close and the two parties were on the same page. Of course, those rumours were quickly denied, but given the trajectory of the GBP/USD, it is fair to say that progress is being made.
At the same time, we have more data coming out today, this time focused on retail sales. This has been an interesting number as well in recent times, with some large jumps surrounding the original Brexit deadline.


This time, we might not see such a strong response, but the expectation is for a small month-on-month increase of 0.1%.
We already saw UK CPI come in a little soft and comments from BOE’s Carney that he doesn’t expect significant changes in their monetary policy position at this time. But it could very well be another busy session for the Pound.

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