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The UK Inflation: Bad News for GBP Again?

The UK Inflation: Bad News for GBP Again?

Information is not investment advice

What will happen?

The UK CPI, Consumer Price Index, will come out on Wednesday, July 20, at 09:00 MT time (GMT+3).

It's an important indicator for currency valuation because rising prices lead the central bank to raise interest rates. Since the UK inflation remains at a 40-year high, the report will cause significant volatility for the British pound.

Last time, the actual data met the expectations. However, inflation remained at a critical level. As a result, GBPUSD lost 630 points the next hour after the release. If you traded one lot, you could have earned $630.

GBP CPI.jpeg

How to trade on UK CPI?

  • If the UK CPI exceeds the Forecast, the GBP will likely strengthen against other currencies.
  • If the UK CPI is lower than the Forecast, the GBP will likely weaken against other currencies.

Check the Economic Calendar.

Instruments to trade: GBPUSD, GBPCAD, EURGBP.

FBS Analyst Team

FBS Analyst Team

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