October 17th, 2017: Pound Steady Ahead of Inflation Data
October 17, 2017 8:13 am
Morning Report: 07.00 London
This morning, the pound is steady ahead of today’s inflation data where CPI and RPI are expected to rise. The EUR/GBP is slipping lower again.
The US dollar is on the rise, pushing dollar pairs generally lower. The EUR/USD is down, as is the NZD/USD. The GBP/USD is unchanged, while the AUD/USD is actually making gains.
The yen pairs are following suit, with the EUR/JPY making losses while most other pairs are unchanged.
Gold is extending yesterday’s reversal as precious metals stumble despite oil prices spiking yesterday.
Coming up today
The main item this morning is UK inflation, with CPI, RPI and PPI at 09.30.
At 10.00, we have German ZEW economic sentiment.
At 10.15, we get MPC member Tenreyo speaking.
European final CPI is released at 11.00.
BOE Governor Carney speaks at 11.15.
We then get US import prices at 13.30.
US Capacity utilisation and industrial production are at 14.15.
Trade Idea
The NZD/USD is struggling this morning, despite inflation coming in slightly ahead of expectations.
Morning Report: 07.00 London
This morning, the pound is steady ahead of today’s inflation data where CPI and RPI are expected to rise. The EUR/GBP is slipping lower again.
The US dollar is on the rise, pushing dollar pairs generally lower. The EUR/USD is down, as is the NZD/USD. The GBP/USD is unchanged, while the AUD/USD is actually making gains.
The yen pairs are following suit, with the EUR/JPY making losses while most other pairs are unchanged.
Gold is extending yesterday’s reversal as precious metals stumble despite oil prices spiking yesterday.
Coming up today
The main item this morning is UK inflation, with CPI, RPI and PPI at 09.30.
At 10.00, we have German ZEW economic sentiment.
At 10.15, we get MPC member Tenreyo speaking.
European final CPI is released at 11.00.
BOE Governor Carney speaks at 11.15.
We then get US import prices at 13.30.
US Capacity utilisation and industrial production are at 14.15.
Trade Idea
The NZD/USD is struggling this morning, despite inflation coming in slightly ahead of expectations.
There is room below for further downside and a good way to play this is a LOWER trade predicting that the NZD/USD will close below 0.7150 in 14 days for a potential return of 110%.
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