U.K. Inflation Data - Ester Holdings
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U.K. Inflation Data

  • Consumer Price Index (CPI) (y/y) (Mar), fact 1.9%, forecast 2.0%.
  • Consumer Price Index (CPI) (m/m) (March), fact 0.2%, forecast 0.3%.
  • Purchasing producer price index (m/m) (March), fact -0.2%, forecast 0.3%.

The UK inflation report for March turned out to be very negative, and didn’t meet expectations of the market, while actually pointing to the moderate dynamics of this indicator, which was the reason for the restrained limited market reaction.

Fig. 1. U.K. consumer price index (CPI) (y/y) (mar) chart

The British continued to trade with restrained downward dynamics, limited to the levels of the opening of the day. The main constraints for the British are political risks and the situation with Brexit.

The GBP/USD pair is trading near the support, keeping the overall lateral dynamics. A very weak inflation report in the UK can increase the pressure on the pound in the general strengthening of the US dollar. Support levels: 1.3020 and 1.3000, resistance: 1.3070 and 1.3100.

Fig. 2.  GBP/USD pair. Current price – 1.3040.

Read also: “Correlation Strategy for trading in the Forex Trading”

Hanzenko Anton


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