Worldwide macro overview for 30/11/2016

By | November 30, 2016

Global macro overview for 30/11/2016:

The Bank of England provided the Financial Stability Report today. The general conclusion is, that outlook for UK monetary stability “remains difficult”. The results of the Bank of England’s newest stress tests on the UK’s significant lenders revealed, that RBS failed on all metrics, while Barclays and Requirement Chartered both missed out on one metric (the other banks being evaluated were Santander UK, Lloyds Banking Group, HSBC, and Nationwide). The results showed, that the EU and UK economies might suffer if the EU rapidly loses access to UK-provided financial services. Additionally, there is still a threat of further price falls in UK industrial property, so the UK’s big bank account deficit is now susceptible to a decrease in foreign investors hunger. In conclusion, the first cautionary words concerning the UK banking system were released since Brexit, but the monetary markets remain calm as the majority of the UK banks are still in a general good condition.Let’s now take a

take a look at the GBP/USD technical picture in the 4H time frame. The market is still trading horizontally, bound between two important levels, technical support at the level of 1.2334 and technical resistance at the level of 1.2511. Market individuals are still awaiting a trigger that will allow the breakout in either instructions. The material has been supplied by InstaForex Business- www.instaforex.com

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