GBPUSD: Holding quite comfortably above 1.4000 – which is not a key chart level; it’s just a round number. Chart & Levels from Nicole Elliott – Investors Chronicle.

 

GBPUSD SHORT TERM TRADER: Small long at 1.3835; stop below 1.3880. Target 1.4100.

GBPUSD POSITION TAKER: Small long at 1.3775; stop below 1.3880. Target 1.4250.

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UK inflation slows
As do house price rises

Palpable sighs of relief in many quarters as British consumer price rises slow.

Still way above the Bank of England’s 2 per cent target, but CPI at 2.7 per cent in the year to February is better than the 3.1 per cent it peaked at over Christmas; core consumer prices are rising at 2.4 per cent and producer prices were down in February. The ONS claims the effect is mainly due to ‘the previous depreciation of the pound has started to work through the system’. The ONS also noted that house price rises in the year to February were running at 4.9 per cent, versus 5.2 per cent in January.

In a report on trends, risks and vulnerabilities the European Securities and Markets Authority (ESMA) noted that risk in equities ‘remains high’; borrower default risk ‘has eased but remains high due to possible and sudden repricing in risk premia’; that the likelihood of increased market volatility in stocks was a ‘prevailing concern’; that operational risk was elevated and had a ‘deteriorating outlook’; and that ‘speculative’ investments like virtual currencies were ‘vulnerable to the risk of fraud or money laundering’.

Financial & Political Commentary

 

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