Now traders follow the economic events with new vision as inflation in the US seems like decreasing. Let’s see what releases will influence the market due to that factor.
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.
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.
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