Bank of England Reports Published in December 2023
Latest results from the Decision Maker Panel survey – 2023 Q4 – Read the report
The Decision Maker Panel (DMP) is a survey of Chief Financial Officers from small, medium and large UK businesses.
UK International Reserves – December 2023 – Read the report
The Bank of England manages the UK’s official reserves on behalf of the Government.
PRA Regulatory Digest – December 2023 – Read the report
The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
EDF Energy aims to extend life of UK nuclear plants
From: The BBC
EDF Energy has outlined plans to extend the lives of its operational nuclear power stations in the UK.
The French state-owned firm said it would make a decision on whether to extend the lives of four UK plants by the end of the year.
It is also looking at the possibility of running its Sizewell B plant for 20 years longer than scheduled.
British Pound Update: GBP/USD Supported by Easing Rate Cut Expectations le
From: Daily FX
BRITISH POUND (GBP/USD)ANALYSIS AND CHARTS
GBP/USD Forex Signal: Consolidating Likely Ahead of US Inflation Data Tomorrow
From: Daily Forex
Today’s GBP/USD Signals
Risk 0.75%.
Trades may only be taken prior to 5pm London time today.
Long Trade Ideas
- Go long following a bullish price action reversal on the H1 timeframe immediately upon the next touch of $1.2686, $1.2651 or $1.2616.
- Put the stop loss 1 pip below the local swing low.
- Adjust the stop loss to break even once the trade is 25 pips in profit.
- Take off 50% of the position as profit when the price reaches 25 pips in profit and leave the remainder of the position to run.
Short Trade Ideas
- Go short following a bearish price action reversal on the H1 timeframe immediately upon the next touch of $1.2730 or $1.2786.
- Put the stop loss 1 pip above the local swing high.
- Adjust the stop loss to break even once the trade is 25 pips in profit.
- Take off 50% of the position as profit when the price reaches 25 pips in profit and leave the remainder of the position to run.
Sterling rolls off three-week top on euro
From: Reuters
LONDON, Jan 8 (Reuters) – The pound softened slightly on Monday but remained close to its strongest in three weeks against the euro, a level touched the week before on expectations the European Central Bank will cut rates before the Bank of England.
UK house prices rise for first time in eight months – Halifax
From: Reuters
LONDON, Jan 5 (Reuters) – British house prices rose in annual terms in December for the first time in eight months, data from mortgage lender Halifax showed on Friday, adding to signs of a stabilisation in the property market after a hit from higher borrowing costs.
House prices were 1.7% higher than in December 2022 – when the market was hammered by the “mini-budget” crisis of former Prime Minister Liz Truss.
FX Rates in December
GBP/EUR
December High: 1.1679
December Low: 1.1515
December End: 1.1517
GBP/USD
December High: 1.2809
December Low: 1.2516
December End: 1.2741
EUR/USD
December High: 1.1116
December Low: 1.0753
December End: 1.1062