Global macro overview for 22/09/2015:
As economic recovery in the UK continues at a strong pace and unemployment falls further down, the higher tax are a good part of the contribution to the overall country budget to balance the expenses. The UK public sector net borrowing is expected to stand at £8.65 billion in August. The UK public sector net borrowing is on track to a decrease again compared to the last year, having declined by more than £7 billion up until July. Moreover, if wages keep rising as they had been doing during all this year, they should contribute to the overall debt balance as well.
The GBP/USD pair is testing the support zone at the level of 1.5474 now ahead of the BOE Deputy Governor for markets and banking Nemat Shafik’s speach at 6pm GMT. Please notice the recent false breakout above the golden trend line might be short-lived in case of a breakout at the support level.
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