Oil futures were broadly stable on Friday, but were poised to end the week up, ahead of a meeting by the Organization of the Petroleum Exporting Countries and its allies (OPEC+) on Sunday and an EU ban on Russian crude oil kicking in on Monday.
British Pound (GBP) Price Outlook: Steady Ahead of BoE, UK Elections
GBP price, news and analysis:
GBP/USD will likely trade sideways around the 1.39 level ahead of Thursday’s monetary policy decision by the Bank of England.
UK local, regional and mayoral elections take place the same day but the results are not likely to emerge until later.
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GBP/USD to trade sideways near-term
GBP/USD and the GBP crosses are expected to trade sideways this week, with GBP/USD staying close to the 1.39 level ahead of Thursday’s meeting of the Bank of England’s monetary policy committee. Given the UK economic recovery after the pandemic-induced slump, traders will be watching out for any decision by the MPC on tapering its huge economic stimulus measures.
US Dollar Steady, Euro Slips, GBP Benefits From Vaccine Success - US Market Open 2021-01-25 14:00:00 Justin McQueen, Analyst
Equity Market Bounce Faded, Tech Outperforms
QUICK TAKE: US Dollar Steady, Euro Slips, GBP Benefits From Vaccine Success
Equities: The morning bounce which had stemmed from Asia has slowly faded as we approach the Wall Street open. Soft German IFO figures did little to support EU bourses, while reports that French President Macron may announce a 3rd national lockdown on Wednesday has weighed on the CAC 40. Elsewhere, UK PM Johnson will approve a new border crackdown from tomorrow, which could ban entry into the UK from COVID hotspots (South Africa and Brazil), in turn, airliners are among the underperformers to begin the week. The tech sector is outperforming as market participants brace for a slew of large tech earnings, in particular, Apple, Microsoft and Facebook.