Can’t go up and don’t want to go down

23.10.2021

A mixed background is being formed. On the one hand, we can expect growth in quotations against the background of the publication of positive statistics on British retail sales and the upward trend in the oil market. The retail trade can please traders with positive data against the background of rising wages in the UK, inasmuch as rising household incomes lead to higher consumer spending. Oil is targeting the growth of quotations to $86.6 per barrel for BRENT grade, which is also positive for the pound, insofar as assets are historically correlated with each other.

On the other hand, the US Treasury will place $60 billion in Treasury bonds today, which will provide short-term support to the US currency.

Trading recommendation: flat 1.3745 – 1.3840.