Analysts at Scotiabank noted the key data event for Sterling today and offer their outlook for price action. Key Quotes: “The UK’s CBI industrial trends survey revealed a moderation in total orders in Jul (+11, from +13 – but better than the consensus call for +8) and stable selling prices at +13. The CBI reported, however, that factory inflation pressures were on the rise and overall factory output growth accelerated.” “BoE expectations have firmed marginally today, although BoE DG Broadbent’s anticipated comments yesterday provided no guidance at all on rates. A 25bps rate hike is around 72% priced in for the Aug policy meeting now.” “Sterling also caught a bid edging higher to test towards 1.3150/60 intraday but the upside for the market still looks fairly limited above there. We see firm resistance in the low 1.32s. Support is 1.3075/80.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZD/USD Technical Analysis: Still consolidating near multi-month lows FX Street 5 years Analysts at Scotiabank noted the key data event for Sterling today and offer their outlook for price action. Key Quotes: "The UK's CBI industrial trends survey revealed a moderation in total orders in Jul (+11, from +13 - but better than the consensus call for +8) and stable selling prices at +13. The CBI reported, however, that factory inflation pressures were on the rise and overall factory output growth accelerated." "BoE expectations have firmed marginally today, although BoE DG Broadbent's anticipated comments yesterday provided no guidance at all on rates. A 25bps rate hike is around 72% priced in for… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
