Global macro overview for 10/12/2015:
The most important event of the day is the Bank of England's interest rate decision and asset purchase decision, which is widely expected as unchanged. The main reason for maintaining the rates unchanged is a global economic slowdown, lacking signs of inflation growth, and strong pound. This is why Mark Carney remarks that the possible interest rate hike "at the turn of the year" might be out of date and the next tightening cycle he mentioned is around the end of 2016. Moreover, the UK is expected to vote on EU membership next year again, so rising the rates in face of this strong headwinds looks risky.
The GBP/USD pair rallied upwards after finding support at the level of 1.4957 and it is currently trading just under the technical resistance at the level of 1.5198.
