All this months economic data confirmed our fundamental assumptions that the Uk economy is outperforming others in the developed world:
1.) Unemployment is at 10 year lows.
2.) Inflation is significanty better than expected.
3.) GDP growth is the highest among european countries and second highest in the developed world.
In spite of this sentiment is weak on the pound due to the lack of consistancy from Governor Carney and the BOE. The man who a few months ago rocked markets with comments of the time to raise rates in the UK coming closer and fastser than markets could anticipate now says the compleyte opposite despite the UK improving in that time. In hind sight the reason is clear. He is a media (word starts with wh) who craved attention when the FED were getting all the headlines after they began to declare intention to normalize rates. The pity is, i took his comments then at face value thinking hat there aas no way the govenor of a central bank like the BOE would be so petty. Unfortunately i was wrong and i see now tjat i should have realised that a man who wants to even stand out for serving 5 years instead of 8 as tradition states is more interested in being a rock star than a banker. Among these data leaks and a central bank that is more interssted in headlines than consistancy of monetary policy, is it any wonder that the pound is in turmoil?
Really considering cutting these trades at the earliest chance (even if it means a loss) and never touching sterling again. Out of our last 52 trades on etoro, 50 were profitable in under a week. The 50 that did not invovle the pound. I think im spotting a trend here in what throws the spanner in our analysis.