Welcome to Tuesday!
CPI is the most important inflation data that affects the Central Bank’s monetary policy. The Bank decides whether to raise the interest rate or not by considering inflation figures. As a result, it’s obvious that the market pays great attention to the CPI economic indicator.
The UK CPI data will be out at 11:30 MT time on August 15. In times of uncertainties around the Brexit deal, the GBP needs support from positive economic data.
• If the data is greater than the forecast, the GBP will rise.
• If the data is weaker than the forecast, the GBP will fall.
Check the economic calendar
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…