News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • Heads Up:🇨🇳 Industrial Profits (YTD) YoY (AUG) due at 01:30 GMT (15min) Previous: 57.3%
  • RT @FxWestwater: Australian Dollar Forecast: $AUDUSD Action May Swing on Chinese Industrial Profits Link: https://…
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here:
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here:
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am ET on DailyFX!
  • (Weekly Fundy) Crude Oil May Rise as Covid Case Growth Slows. WTI Eyes OPEC Outlook, Evergrande #CrudeOil #WTI #OPEC #Evergrande
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here:
  • We are heading into the final trading days for the month of September and event risk thins out amid the $SPX's rebound. This is what history says for the 39th week of the year and here is my take on the variable factors:
GBP/USD Weekly Opening Gap in Focus Ahead of U.K. CPI

GBP/USD Weekly Opening Gap in Focus Ahead of U.K. CPI

David Song, Shuyang Ren,

- U.K. Consumer Price Index (CPI) to Slow for Fifth Time in 2014.

- Core Rate of Inflation to Fall Back From Fastest Pace of Growth This Year.

Trading the News: U.K. Consumer Price Index

A slowdown in the U.K.’s Consumer Price Index (CPI) may help to close the weekly opening gap in the GBP/USD should the inflation report drag on interest rate expectations.

What’s Expected:


Click Here for the DailyFX Calendar

Why Is This Event Important:

The Bank of England (BoE) may continue to soften its hawkish tone for monetary policy as the central bank cuts its outlook for U.K. wage growth, and a weaker-than-expected CPI print is likely to trigger a bearish reaction in the GBP/USD as market participants scale back bets of seeing a rate hike in 2014.

For Real-Time Updates and Potential Trade Setups on the British Pound, sign up for DailyFX on Demand

Expectations: Bearish Argument/Scenario




Average Weekly Earnings in Bonus (3MoY) (JUN)



Retail Sales ex Auto (MoM) (JUN)



CBI Trends Selling Prices (JUL)



U.K. firms may conduct heavy discounting amid weak wage growth paired with the slowdown in private sector consumption, and a dismal CPI reading may instill a more bearish outlook for the GBP/USD as it reduces the BoE’s scope to normalize monetary policy sooner rather than later.

Risk: Bullish Argument/Scenario




Gross Domestic Product (YoY) (2Q P)



Mortgage Approvals (JUN)



BBA Loans for House Purchases (JUN)



The pickup in private sector lending along with expectations for a faster recovery may generate another stronger-than-expected inflation print, and the pound-dollar may continue to push off of the 200-Day SMA (1.6662) should the data print boost rate expectations.

Read More:

US Dollar at Special Risk of Pullback versus Euro and British Pound

COT: Mexican Peso Speculators Flip to Net Short

How To Trade This Event Risk(Video)

Bearish GBP Trade: U.K. CPI Slips to 1.8% or Lower

  • Need red, five-minute candle following the release to consider a short British Pound trade
  • If market reaction favors selling sterling, short GBP/USD with two separate position
  • Set stop at the near-by swing high/reasonable distance from entry; look for at least 1:1 risk-to-reward
  • Move stop to entry on remaining position once initial target is hit, set reasonable limit

Bullish GBP Trade: Headline Reading for Inflation Tops Market Expectations

  • Need green, five-minute candle to favor a long GBP/USD trade
  • Implement same setup as the bearish British Pound trade, just in reverse

Potential Price Targets For The Release



Chart - Created Using FXCM Marketscope 2.0

  • Break of Bearish RSI Momentum Raises Risk for Bottoming Process
  • Interim Resistance: 1.6960 (50.0% retracement) to 1.6970 (23.6% retracement)
  • Interim Support: 1.6630 (50.0% expansion) to 1.6660 (200-Day SMA)

Impact that the U.K. CPI report has had on GBP during the last release


Data Released



Pips Change

(1 Hour post event )

Pips Change

(End of Day post event)

JUN 2014

07/15/2014 8:30 GMT





June 2014 U.K. Consumer Price Index


The U.K.’s Consumer Price Index (CPI) expanded sharply at an annualized rate of 1.9% in June, beating the average estimate of 1.6%. The core CPI also exceeded market forecast to reach 2.0% from 1.6% the month prior. The print was mostly pushed up by clothing & footwear and food & beverage. The larger-than-expected figure boosted the pound, with the GBP/USD climbing to a high of 1.7190 during the North American trade. However, the GBP/USD consolidated going the close, with the pair ending the day at 1.7146.

--- Written by David Song, Currency Analyst and Shuyang Ren

To contact David, e-mail Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.