UK U-TURN HELP SHORT COVERING
The UK Bond Crisis is showing signs of easing and some major news over the weekend with new Chancellor Hunt talking about possible budget cuts and Tax rate changes to the upcoming budget on Oct 30th.
The Bank of England Governor also talked up more aggressive rate hikes and both are helping calm markets Monday morning ahead of what will be volatile day.
The market is holding its breath for UK Bond market open later in Europe with the BOE no longer involved in buying longer term bonds will they surge higher again and crach the GBP or will the respond to the Government Uturn and in that case the GBP relief rally has legs here.
Can see UK Bond Template here
tradingview.com/chart/hX8BIMpA/
Longer term there are still reasons to be bearish on GBP but things improve then the current crisis pricing of GBP and short positioning makes short squeeze very possible.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
The Bank of England Governor also talked up more aggressive rate hikes and both are helping calm markets Monday morning ahead of what will be volatile day.
The market is holding its breath for UK Bond market open later in Europe with the BOE no longer involved in buying longer term bonds will they surge higher again and crach the GBP or will the respond to the Government Uturn and in that case the GBP relief rally has legs here.
Can see UK Bond Template here
tradingview.com/chart/hX8BIMpA/
Longer term there are still reasons to be bearish on GBP but things improve then the current crisis pricing of GBP and short positioning makes short squeeze very possible.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
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