The trading plan for the pound on October 9, 2018
Although the US had a day off yesterday, the dollar was able to resume its growth against the pound. This is largely due to the rebound after Friday’s growth of the pound, caused by extremely weak data on the US labor market. True, the European problems that have a negative impact on the single European currency have somewhat spoiled the life of the pound.
Today, the calendar is completely empty, although BRC has published its retail sales data, which showed a 0.2% growth shift, a decline of 0.2%. This, of course, is not complete retail sales data, but still there is something to think about. Also today, you can pay attention to the speech of Charles Evans, as it precedes the release of data on inflation, which will be published tomorrow and the day after tomorrow. Given that inflation is expected to rise, a representative of the Fed will be waiting for statements specifically on this matter. If a member of the Federal Commission on operations in the open market focuses on this issue, then all questions will be removed regarding the rate of increase in the Fed’s refinancing rate.
The currency pair pound / dollar once again felt support in the region of the range level of 1.3000 / 1.3050, forming a pullback. Probably assume a return to the framework of this level, where relative it and we will consider the main course.