Important events today:

19:00 UTC – US: publication of Fed meeting minutes.

We open Buy positions for two reasons. Firstly, UK pleased investors with the positive statistics on business activity in industry and services – British PMI was above the European and American, which signals an acceleration of economic growth. Secondly, the commodities market continues to rise in copper quotations, which is positive for high-yielding assets, with which the pound is historically well correlated. Intermarket copper/gold ratio, which is a barometer of the sentiment in the markets, is showing strong growth, which indicates investors’ optimism.

Recommendations: Buy 1.2075/1.2035 and TP 1.2168.