Still no decision in Doha – RTRS

According to Reuters, Venezuelan oil minister and his peers from Russia, Qatar and Saudi Arabia are expected to give a press conference soon, following their close door meeting in Doha.

Furthermore, a Russian oil industry source suggested that it is premature to talk about a decision, according to news agency Reuters.

UK CPI preview: What to expect of GBP/USD?

The GBP/USD pair is on a weak footing after BOE’s McCafferty blamed receding inflationary pressures for his decision to ditch rate hike call. McCafferty also talked about negative rates. The dovish comments hit the wires in the NY session and weakened Sterling ahead of the monthly UK CPI release.
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UK: Upside risk on inflation? – ING

James Knightley, Senior Economist at ING, suggests that UK inflation is likely to creep higher on “base effects” relating to food and fuel, while there are growing upside risks from the service sector.
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