U.K. Inflation Data

• Consumer Price Index (CPI) (y/y) (November), fact 2.3%, forecast 2.3%.
• Consumer Price Index (CPI) (m/m) (November), fact 0.2%, forecast 0.2%.
• Purchasing producer price index (m/m) (November), fact -2.3%, forecast -2.9%.

An inflation report in the UK largely coincided with market expectations and remained unchanged. A less significant slowdown was shown by the producer purchasing prices index, which fell to the lows of the last three years.

Fig. 1. U.K. purchasing  producer price index chart

 

The British pound reacted with restraint to these statistics, retaining the downward trend on the preservation of risks for Brexit. The GBP/USD pair maintains a moderately upward trend on the weakness of the US dollar, limited to the support of 1.2600 and resistance of 1.2700-20.

Fig. 2. GBP/USD chart. Current price – 1.2650

Read also: “Candlestick analysis. Continuation patterns.”

Hanzenko Anton

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