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Global macro overview for 06/11/2015

Global macro overview for 06/11/2015:

Yesterday the Bank of England had decided to keep the interest rate at the level of 0.50%. The asset purchase facility hasn't been changed as well and it is still at the level of 375bln. Moreover, the BoE did not give the market participants any clear signs about when the low interest rates can go up for the first time after the financial crisis. BoE Governor Mark Carney said that BoE will change the interest rate when the time is right, which is a clearly different perspective since the "turn of the year" statement from the beginning of September. It looks that there is a lot of confusion about a possible rate hike and the BoE fails in the attempts to give guidance on its plans for interest rates so far.

The GBP/USD pair had reacted negatively for the news, the sell-off had reached the important golden trend line and broke below it. The next support is seen at the level of 1.5105.


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