GBPUSD Slumps As BoE Votes 6-2 To Hold Policy Unchanged
The Bank of England has left interest rates unchanged with only two of its MPC members voting in favour of a hike this month.
FTSE
Pound tumbles then bounces as FTSE hits record
What a comedy show this is turning out to be. Last night saw sterling tumble after research by the Times newspaper and YouGov suggested that there could be a hung parliament.
It Is All About OPEC Today
For obvious reasons, all the focus is on the OPEC meeting. As we pointed out the possibility yesterday, oil prices have bounced back very strongly today on renewed hopes that oil ministers will, after all, be able to hammer out a deal later on to limit crude production.
Brexit – Pound Surges On High Court Ruling re Article 50
Forget the Bank of England meeting today, it is all about politics as far as the pound is concerned.
Gold On Shaky Footing
Gold and silver have started the new trading week, month and quarter on the back foot today. At the time of this writing, gold was trading at $1312 and silver was below $19.00 per troy ounce once again.
Brexit-Hit Pound Stages Modest Rebound On Manufacturing Surprise
News that the UK manufacturing activity in September hit its highest level since June 2014 has provided a welcome relief for sterling.
Don’t Panic…..Don’t Panic!
Here in the UK in the 1970’s one of the most popular TV comedy series was one called Dad’s Army. The series was set during the second world war, and followed the exploits and adventures of the Home Guard which was established to protect the country in the event of an invasion.