What’s New with Australian Unemployment Rate?
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
Pound Can Outperform the Market
What is happening?
Great Britain's office for national statistics will release CPI data on January 19, 09:00 GMT+2. This is considered the UK's most important inflation data because it's the central bank's inflation target. In addition, over the last several months, investors highlighted inflation as the key measure of economic recovery. Thus, this particular reading is one of the most anticipated January events in the British economy.
Pound against other currencies
Researchers at Barclays describe the British Pound's recent performance as "resilient" as they anticipate the currency to continue outperforming key peers over the coming weeks and months. The pound was the best performing G10 currency in the first week of 2022, helped by a positioning unwind and expectations for a February interest rate hike. The market now anticipates a 75% chance of a second rate hike coming from the Bank of England at the February policy meeting, odds of which have in turn been boosted by expectations for a more hawkish US Federal Reserve in 2022.
The last readings created a vast bullish movement in GBP/USD pair. However, shortly the pair returned to 1.320.
How to trade on Britain's CPI readings?
Higher-than-expected inflation boosts the chances for a rate hike. Thus, creating an uptrend movement in GBP against other currencies.
- If the actual number is higher than expected – GBP will rise.
- Otherwise – GBP may slide against USD and EUR.
Check the economic calendar
Instruments to trade: GBP/USD, GBP/CAD, EUR/GBP.
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The US Retail Sales Update
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
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