The Reserve Bank of New Zealand made announcements regarding its monetary policy. The NZD/USD dropped.
British pound dives to day’s minimums on UK inflation data
On Tuesday, the British pound went down to the day’s minimums versus the evergreen buck due to slowing inflation in December, which slowed for the first time for six months, hinting that the country’s cost of living squeeze relieved.
The currency pair GBP/USD reached 1.3756, drifting away from Monday’s maximums of 1.3819, which is the strongest value since Britain’s vote to break up with the European Union in June 2016.
The consumer price index dived to an annual rate of 3% the previous month, as the Office for National Statistics informed, sliding from November’s six-year maximum of 3.1% and reporting the first descend since June.
The given outcome turned to be in line with experts’ estimates.
Underlying inflation, stripping out food as well as energy costs, cooled more than anticipated to 2.5% from 2016.
The British pound was intact versus the common currency, with EUR/GBP showing 0.8888.
The US CPI and core CPI are due at 15:30 MT time on May 12.
April seasonal patterns weren’t supposed to work, but somehow they did. Even a strong fundamental issue such as the global recession amid the coronavirus couldn’t overwhelm it. That’s why May seasonal patterns may work as well.
Stocks, oil and GBP gain on risk-on sentiment
Investors weigh reopening economies against the growing US-China tension. Which impulse will be stronger?
Here you’ll find fresh news that drive the market today.