The United States will publish CPI and core CPI on September 11, at 15:30 MT time.
British pound sheds day’s revenues as UK inflation dips
On Tuesday, the British pound declined to the day’s minimums, cutting early gains after data demonstrating that the annual rate of inflation in the UK edged down for the first time since October the previous month.
The currency pair GBP/USD slumped 0.25% being worth 1.3024, drifting away from an earlier peak of 1.3125.
The Office for National Statistics told that in June consumer prices rallied 2.6%, down from a nearly four-year peak of 2.9% in May.
Financial experts had expected the inflation rate to stay intact.
It turned to be the largest drop in inflation since February 2015. It relieved pressure on the Bank of England to lift interest rates.
Since the previous year’s Brexit vote inflation has accelerated abruptly because the steep sag in the British pound bolstered import prices, causing fears over a squeeze on living standards considering wages lagging soaring prices.
The Bank of England is expected to hold its next policy gathering on August 3. Previously, at the bank's June meeting up to three policymakers backing lifting rates.
The British pound was at the day’s minimums versus the common currency, with EUR/USD soaring 0.66% trading at 0.8850.
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
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US Initial jobless claims will be announced on Thursday at 15:30 MT time.
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.