Market updates on November 12
The euro and the Australian dollar growing against the USD, the British pound in a correction after Monday's rise
Trade GBP on the crucial economic event
British CPI reading will be out at 11:30 MT time on October 17.
The Consumer Price Index is the leading indicator for every economy as it reflects the inflation level. The central bank forms its monetary policy according to this level. That’s why it is not a surprise that great CPI data pulls the GBP up, weak data pushes it down.
Last time the data was released on September 19. It outperformed the forecast (2.7% vs 2.4%). As a result, the GBP/USD pair rose significantly from 1.3097 to 1.3213.
• If CPI is greater than expected, the GBP will rise.
• If CPI is weaker than expected, the GBP will fall.
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Market updates on November 12
The euro and the Australian dollar growing against the USD, the British pound in a correction after Monday's rise
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