On Monday, the US dollar was strengthening and consequently, the pound dropped. The British currency lost 42 points.
Today at 12:30 data on Inflation in the UK is published. Data is expected to be mixed; it gives opportunity to expect the continuation of bearish tendency amid strengthening of the US dollar. The major marker of Core Producers Price Index Output is expected to be flat; 2.3% annually. CPI is expected to drop from 2.9% to 2.3%.
At 16:30 UTC+4 data on US Retail Sales in July is published; it is forecast to rise 0.2% vs. 0.4% in June.
From the technical point of view, when the testing level 1.5435 on the H4 is broken, the first target 1.5390 opens. After consolidation under the level we expect so-called mini trend to 1.5255. If the rate consolidates above the upper testing level 1.5482 amid strong macroeconomic data, the growth to 1.5529 is possible.
The material has been provided by InstaForex Company – www.instaforex.com
On Monday, the US dollar was strengthening and consequently, the pound dropped. The British currency lost 42 points.
Today at 12:30 data on Inflation in the UK is published. Data is expected to be mixed; it gives opportunity to expect the continuation of bearish tendency amid strengthening of the US dollar. The major marker of Core Producers Price Index Output is expected to be flat; 2.3% annually. CPI is expected to drop from 2.9% to 2.3%.
At 16:30 UTC+4 data on US Retail Sales in July is published; it is forecast to rise 0.2% vs. 0.4% in June.
From the technical point of view, when the testing level 1.5435 on the H4 is broken, the first target 1.5390 opens. After consolidation under the level we expect so-called mini trend to 1.5255. If the rate consolidates above the upper testing level 1.5482 amid strong macroeconomic data, the growth to 1.5529 is possible.
The material has been provided by InstaForex Company – www.instaforex.com
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