Market foсus

On Tuesday, November 14, 2017, it is better to focus on the UK consumer price index. The consumer price index (CPI) measures the change in the prices of goods and services, from the consumer’s point of view. This is a key way to measure changes in UK buying and inflation trends.

According to the forecast, in October the growth rate will be 0.2%, which is lower than the previous value at the level of 0.3%. On an annual basis, the indicator will grow to the level of 3.1%, which exceeds the previous value of 3.0%.

In case of data release within the forecast, the pound may be under pressure. As according to the results of the November meeting of the Bank of England, the interest rate will reach the level of 1.0% by 2020, which excludes the chances of tightening monetary policy in case of inflation. For more information, see Interest rate of the Bank of England.

Also, today there will be a press conference of the heads of central banks in Frankfurt, where the head of the European Central Bank Mario Draghi, the Chairman of the Federal Reserve System Janet Yellen, the Governor of the Bank of Japan Haruhiko Kuroda and the Head of the Bank of England Mark Carney will hold speeches. This event can cause the growth of volatility in all key currency pairs.

Alexander Sivtsov