News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • - Sees transitory influences on inflation, adding that inflation will decline over time
  • US Treasury Secretary Yellen says we are monitoring inflation very carefully and take it seriously - current burst of inflation reflects the difficult of reopening economy that has been shutdown - we are taking steps to address bottlenecks afflicting the economy right not
  • Comfortably Numb by Pink Floyd now.
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.23% 🇦🇺AUD: 0.23% 🇬🇧GBP: 0.16% 🇯🇵JPY: 0.10% 🇪🇺EUR: -0.02% 🇨🇭CHF: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/GhCvNpdh2E
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.29% France 40: 0.13% Germany 30: -0.09% US 500: -0.09% Wall Street: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/E3ncs0dG7P
  • $NQ bid at the open, looks like little fear of a Fed surprise at this point. Nasdaq 100 up a little under 9% from the low on the minutes release in mid-May (from April rate decision) https://t.co/nbtLNLE3pq
  • EUR/USD attempts to retrace the decline following the European Central Bank (ECB) meeting as it bounces back from the 50-Day SMA (1.2104). Get your $EURUSD market update from @DavidJSong here:https://t.co/FTPd6MfHDz https://t.co/Cu2r2QD2A5
  • ...I could probably stay on the CCR catalogue to represent various possible outcomes from the Fed. I Heard It Through the Grapevine, Who'll Stop the Rain, I Put a Spell On You, Fortunate Son...
  • What's on your pre-FOMC music playlist today? Not even thinking about it, I seem to have started with Bad Moon Rising by CCR
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 0.24% Oil - US Crude: 0.23% Gold: -0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/3Tp9rWTsbv
Pound Declines Surround Announcement of BoE Mortgage Powers

Pound Declines Surround Announcement of BoE Mortgage Powers

Baruch Spier,

Talking Points:

  • UK’s Osborne says BoE will control mortgage sizes
  • Osborne warns of possible housing markets risk
  • GBP/USD falls 45 pips from a 2-week high

Want to trade with proprietary strategies developed by FXCM? Find out how here.

The Pound declined in Forex markets as UK Chancellor Osborne prepares to give the Bank of England power over mortgage lending risks. The BoE will control the size of mortgages compared to incomes and house values to provide stability to the housing market. Osborne will say that current housing market doesn’t pose an immediate threat but could in the future, according to the text from the speech he will deliver tonight.

An expanding housing market or rising housing prices may prompt a central bank to raise interest rates. Therefore, non-monetary measures to cool the housing market may allow the BoE to refrain longer from raising interest rates. That could be the reason why the Pound declined sharply around the time of the release of the comments from the upcoming speech.

GBP/USD 1-Minute: June 12, 2014

Pound Declines Surround Announcement of BoE Mortgage Powers

The Pound declined 50 pips against the US Dollar near the time of the announcement, coming down from a 2-week high set earlier today at 1.6859. Currency Strategist Ilya Spivak recently entered a short position in GBP/USD following a retest of a rising trend line.

GBP/USD Daily by Ilya Spivak

Pound Declines Surround Announcement of BoE Mortgage Powers

Charts created by Baruch Spier and Ilya Spivak using Marketscope 2.0. Add DailyFX Support/Resistance to your charts at FXCM Apps.

-- Written by Baruch Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES