Pound Dips As CPI Expectations Fall Mon, 12 Jan 2015

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  • This morning, markets are mixed, with slight gains for equities counter balanced by wider deflation concerns.

 

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  • The deflation fears are behind one of this morning’s biggest movers, as the British pound comes in for some selling pressure. Tomorrow sees the released of the latest British inflation figures and it seems analysis are already looking for soft data, with CPI expected at 0.7% and RPI at 1.7%. The GBP/JPY is off by 0.29%, with the GBP/USD and EUR/GBP impacted to a similar degree.

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  • Gold continues to climb as terror fears drive desire for a safe haven.

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  • The NZD/USD has pulled back rapidly after four days of games.

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Coming up today:
  • Coming up today we have Canadian BOC business outlook survey at 15.30, followed by FOMC member Lockhart speaking at 17.40.
Trade Idea:
  • Oil is slipping further this morning and as deflation fears stalk markets, the Canadian dollar continues to drop against the dollar. The USD/CAD could therefore have further to climb over the next 10 days.

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  • A good way to play this is a HIGHER trade predicting that the USD/CAD closes ABOVE 1.1900 in 10 days time for a potential return of 135% if successful.

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Summary:

 

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