The pound is analysing statistics
16.06.2015
The GBP/USD pair is trading slightly lower: investors will need to assess the block of published macroeconomic statistics.
The pound is now kept in suspense: the United Kingdom is publishing a large block of macroeconomic statistics, which has yet to be assessed and reflected in the pricing.
Today it was announced that inflation in the UK in May amounted to 0.2% m/m (0.1% y/y). The base value of the index of consumer prices was 0.9% y/y. The producer prices index in May fell by 0.9% m/m against the forecast of growth of 0.4%. The y/y rate fell by 12% while expecting a decline of 11.4%.
The index of sale prices, in turn, in the past month increased by 0.1% m/m, which was in line with expectations.
Inflation is a very important component for the Bank of England in making strategic decisions on interest rates. The inflation target remains the same for several years - 2%. Achieving it is still very far away. However, the rate of inflation in the UK is clearly cyclical. In this light, it can be expected that already in 2016 a steady growth rate will begin.
Today the relevant range for the GBP/USD pair is 1.5520-1.5595.
RoboForex Analytical Department
The pound is now kept in suspense: the United Kingdom is publishing a large block of macroeconomic statistics, which has yet to be assessed and reflected in the pricing.
Today it was announced that inflation in the UK in May amounted to 0.2% m/m (0.1% y/y). The base value of the index of consumer prices was 0.9% y/y. The producer prices index in May fell by 0.9% m/m against the forecast of growth of 0.4%. The y/y rate fell by 12% while expecting a decline of 11.4%.
The index of sale prices, in turn, in the past month increased by 0.1% m/m, which was in line with expectations.
Inflation is a very important component for the Bank of England in making strategic decisions on interest rates. The inflation target remains the same for several years - 2%. Achieving it is still very far away. However, the rate of inflation in the UK is clearly cyclical. In this light, it can be expected that already in 2016 a steady growth rate will begin.
Today the relevant range for the GBP/USD pair is 1.5520-1.5595.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.