Main Market Trends on September 23
The Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!
UK CPI
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This economic indicator is highly important for the Bank of England’s monetary policy because it is used as the central bank’s inflation target. The higher the annual consumer inflation gets, the closer an interest hike is. As a result, if CPI growth is greater than the forecast, the GBP will have chances to go up. The UK will release Consumer Price Index at 11:30 MT time. UPDATE. CPI came out lower than expected. GBP/USD fell below 1.34.
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The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
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