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Sterling little changed in a tighter-range Tuesday's session

Tuesday, Jan 20 2015
Sterling was little changed in a tighter-range Tuesday's session. Markets are still weighing on possible deflation pressure in the UK, ahead of tomorrow's job figures and BoE Meeting Minutes. In his recent interview BoE Governor Mark Carney said  that ‘'It’s possible that prices will fall in a given month on a year-on-year basis. That’s possible.'’ Decline should happen due to the fall in oil and food prices. 
 
To remind ourselves UK inflation increased by only 0.5% last month, the lowest level since 2000. However, Carney dismissed comparison with Eurozone in which ECB is preparing to start with QE programme, after area entered into deflation. He also added that there is possibility of BoE rising its interest rates in foreseeable future. 
 
Sterling is little changed in an uneventful Tuesday's session, with no data releases from the UK. Pair is likely to find support around 1.5050 and resistance above 1.5180 level. Later today, NAHB Housing Market Index data will be released. 
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