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Pound Rebounds On Rate Hike Hope22 June 2018 by Dave Evans

Morning Report: 07.00 London

The British pound continues to out-perform following yesterday’s surprisingly bullish MPC meeting where three members voted for a rate hike amid noises of quitting QE earlier than expected. The GBP/USD and GBP/JPY are higher again after rallying yesterday, while the EUR/GBP is sinking for the second straight day.

The euro is also nudging higher, though lagging the pound, with the AUD/USD beating a similar path.

The US dollar fell back heavily against the Swiss franc yesterday, with further selling this morning.

The USD/CAD is also falling back for the first time in many sessions.

Yen pairs have a positive bias, with the US dollar making minor gains, and the GBP/JPY rising for the third straight day.

Gold is also making small gains after three days of losses.

Coming up today

This morning, we have a slew of European data points, starting with French flash manufacturing and services PMI. German data is at 08.30, with European data at 09.00.

OPEC meetings run all day.

Canadian CPI and retail sales are at 13.30.

Trade Idea

Gold has lots its glitter of late and despite a minor rally this morning, the current trend is firmly lower.

June 22nd, 2018: Pound Rebounds On Rate Hike Hope

A good way to play this is a LOWER trade predicting that gold will close below $1250 in 14 days for a potential return of 281%.

June 22nd, 2018: Pound Rebounds On Rate Hike Hope