Did Canada and the UK Beat inflation?

Did Canada and the UK Beat inflation?

UK CPI

October 19, 09:00 GMT+3.

The UK Office for National Statistics will publish its Consumer Price Index (CPI) update on October 19 at 09:00 GMT+3. Inflation remains one of the major problems for the British economy, with a 9.9% year-to-year increase in August. Analysts believe the Bank of England will make another significant rate hike at the November meeting. The September inflation rate will determine whether it will be a 50 or 75 points rate hike. 

Last time, the actual numbers underperformed the expectations. As a result, the GBPUSD downtrend accelerated, and the pair set a new low.

gbpusd for news.png

  • If the UK CPI exceeds a forecast, GBP will likely strengthen against other currencies.
  • Alternatively, the GPB will drop.

Instruments to trade: GBPUSD, GBPJPY, EURGBP.

Canadian CPI

October 19, 15:30 GMT+3.

Statistics Canada will release the Consumer Price Index (CPI) on October 19 at 15:30 GMT+3. Canada is one of the countries which is succeeding in the battle against inflation. Last time markets got surprised by a 0.3% CPI monthly decrease. As a result, the Canadian dollar weakened versus the basket of currencies. For example, USDCAD gained 5000 points within five days, and CADJPY declined by 3400. 

cadjpy.png

  • If the Canadian CPI exceeds a forecast, the CAD might strengthen against other currencies.
  • Alternatively, the CAD will drop.

Instruments to trade: CADJPY, USDCAD, EURCAD.

Australian Unemployment Rate

October 20 03:30 GMT+3.

The Australian Bureau of Statistics will announce the Unemployment Rate on October 20 at 03:30 GMT+3. The indicator shows the percentage of the unemployed workforce seeking jobs for the previous month. The number of unemployed people is an important signal of overall economic health because labor market conditions affect consumer spending, the major inflation driver. Therefore, in fighting inflation, central banks pay a lot of attention to labor market releases and make decisions according to the results.

This reading will highly influence the AUD pairs. You should wait for the announcement and compare actual figures with forecasted ones in the economic calendar.

Last time, the actual Unemployment Rate overperformed expectations. As a result, AUDJPY has been moving in a downtrend during the next month.

audjpy.png

  • If the actual numbers beat expectations, the AUD will go down.
  • On the contrary, lower numbers will push the AUD up.

Instruments to trade: AUDUSD, AUDJPY, AUDCAD.

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