Worldwide macro introduction for 17/04/2018
The characteristics of salaries and earnings leaving out benefits in the UK sped up to 2.8%y/y in February from 2.6%in January. The increase in overall
compensation stayed at 2.8%, although it was expected to speed up to 3.0%. For the very first time since January 2017, the growth rate of the basic wage is greater than the inflation rate. The reduction in the joblessness rate to 4.2%likewise has a positive impact(the approximated number was 4.3%). Normally, the information is solid and enables BoE to raise rates of interest, although from the perspective these days’s market may not meet the high expectations of investors.On the other hand, the ZEW Institute study among German analysts and economic experts reveals that in April the current assessment of the economy along with the expectations for the future scrubby. The existing score index was up to 87.9 from 90.7 at the threshold. 88. The indication of future expectations was up to -8.2 from 5.1 by consensus of -1.0. The data are in line with the current Eurozone publications recommending participating in the period of abandoning a strong growth rate at the turn of the year. Let’s now take a look at the EUR/GBP technical picture at the H4 timespan. The macro environment is still not supported for the EUR and after checking out EUR/GBP continues the slide below the level of 0.8648, erasing the early morning gains.
The next assistance is seen at the level of 0.8530, however the bears have gotten in the oversold market conditions zone, so the slide may be restricted. The essential technical level to the benefit is seen at the level of 0.8808. The product has been supplied by InstaForex Company -www.instaforex.com