Today traders await the US inflation data to be out at 15:30 MT. Jump in to get fresh trade ideas for today!
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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Once in a month, the euro has a very special day of increased volatility at the start of the European trading session.
The relationship between the US and Turkey is not going well. Neither do things for the Turkish lira.