The British monthly GDP is announced on Friday at 09:00 MT time.
Trade the British pound on the inflation data
The level of British consumer price index (CPI) will be released on January 16 at 11:30 MT time.
This indicator accounts for a majority of overall inflation. The data is very important, as the bank of England uses it to measure the inflation level. Last month the index remained at the same level of 2.3%, as it was forecast by analysts. Higher-than-expected data will bring a positive momentum to the British currency.
• If CPI is higher than expected, the GBP will rise;
• IF CPI is lower, than expected, the GBP will fall.
The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
The US unemployment claims are out on Thursday at 15:30 MT time.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.