UK Inflation Data
- Consumer Price Index (CPI) (y / y) (May), fact 2.0%, forecast 2.0%.
- Consumer Price Index (CPI) (m / m) (May), fact 0.3%, forecast 0.3%.
- Purchasing Producer Price Index (MoM) (May), fact 0.0%, forecast 0.2%
The data on the consumer price index (CPI) in the UK coincided with the forecast. The slowdown was shown by the producer purchasing price index, pointing to a slowdown in inflation. At the same time, the overall CPI figures kept a moderately upward trend, which is regarded by the market as an optimistic signal.
Fig. 1. UK consumer price index (CPI) (y)
The British pound updated the high against the American dollar and most of its main competitors on restrained positive data , but continued to trade very restrained, limited to risks and political uncertainty in the UK. The GBP/USD pair has slowed down the downward trend, but is limited in growth by resistance levels: 1.2580 and 1.2600.
Fig. 2. GBP/USD chart. Current price – 1.2570
Read also: “Correlation Strategy for Trading in the Forex market“
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- What is expected from the June US Federal Reserve meeting
- U.S. trade opposition. What are the risks
- Political risks are escalating around candidates for the Prime Minister in the UK
Current Investment ideas:
- Where else, if not on the banking sector! Earn with an investment idea from an Ester company’s expert!
- The best software for earnings on the technology giant’s Microsoft shares is inside! Connect!
- Hewlett-Packard shares are ready to close the gap, and we are ready to close the profits!
- Several reasons to buy Walmart shares. Use the chance to earn!