GBPUSD – There is no confidence in the market about the growth of the Bank of England rate

13.12.2021

No important events are expected today.

Today, a somewhat mixed situation is formed. On the one hand, we should expect a decline in prices against the backdrop of a decline in the London interbank lending market. On the interbank market, there is a decrease in Libor rates for GBP and an increase in rates for USD. If earlier investors at the meeting on December 16 expected the Bank of England to increase the discount rate, now opinions are divided and it is no longer possible to speak of confidence in further tightening of monetary policy.

On the other hand, oil is expected to rise, which could negatively affect the USD, as these assets have a historical inverse correlation. In the second half of the day, the publication of a fresh OPEC report on the oil market is expected, which can please investors with positive data. In this regard, BRENT may well consolidate above the last week at 76.54.

Recommendation: Lateral 1.3205 -1.3300.