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The oil price appears to be driven by a combination of high supply

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Movers In the UK, it is time for the BoE’s January meeting. As expected, the BoE took a dovish stance at the December meeting due to a combination of a poor risk environment and the lower oil price, which has lowered the inflation outlook. Not much has changed. The oil price is still dropping, risk appetite is still poor and activity data have been weak. The pressure from the strong GBP, however, has eased as it has weakened significantly. Overall, we expect the Bank Rate, the stock of

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