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
Oil - US Crude
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
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe 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:
  • The Nasdaq 100 index is aiming to breach a key resistance level at 14,950 for a second time. A successful attempt may open the door to further gains, although the MACD indicator flags signs of weakness. Get your equities forecast from @margaretyjy here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here:
GBP/USD to Eye Monthly High on Above-Forecast U.K. CPI

GBP/USD to Eye Monthly High on Above-Forecast U.K. CPI

David Song, Strategist

- U.K. Consumer Price Index (CPI) to Increase Annualized 3.1%- Highest Reading Since .

- Core Rate of Inflation to Rise 2.8% per Annum- Fastest Pace of Growth Since December 2011.

Trading the News: U.K. Consumer Price Index (CPI)


A pickup in the headline and core U.K. Consumer Price Index (CPI) may push GBP/USD towards the monthly-high (1.3321) as Bank of England (BoE) Governor Mark Carney would have to write an open letter to Chancellor of Exchequer Philip Hammondexplaining why inflation has moved away from target and what action the Bank is taking to bring inflation back to target.’

Signs of heightening price pressures may spur a growing rift within the Monetary Policy Committee (MPC) as Chief Economist Andrew Haldane warns ‘price rises across the whole economy are currently running well above the 2 percent inflation target and are expected to remain above-target for the next few years.’ In turn, GBP/USD may exhibit a more bullish behavior over the remainder of the year as ‘a majority of MPC members had judged that, if the economy continued to follow a path broadly consistent with the prospect of a continued erosion of slack and a gradual rise in underlying inflationary pressure, some withdrawal of monetary stimulus was likely to be appropriate over the coming months in order to return inflation sustainably to target.’

Keep in mind, the BoE may largely endorse a wait-and-see approach at its last policy meeting for 2017 after implementing a dovish rate-hike in November, and Governor Mark Carney and Co. may tame expectations for higher borrowing-costs as ‘there remain considerable risks to the outlook, which include the response of households, businesses and financial markets to developments related to the process of EU withdrawal.’

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


Data Released



Pips Change

(1 Hour post event )

Pips Change

(End of Day post event)



10/17/2017 08:30:00 GMT





September 2017 U.K. Consumer Price Index (CPI)

GBP/USD 5-Minute Chart


The U.K. Consumer Price Index (CPI) climbed an annualized 3.0% in September to mark the fastest pace of growth since 2012, while the core rate of inflation held steady at 2.7% per annum for the second-month. A deeper look at the report showed prices for clothing & footwear advanced 3.9% on a monthly basis, with food prices also increasing 0.8%, while transportation costs narrowed 1.3% after rising 1.0% in August.

The British Pound struggled to hold its ground following the batch of in-line prints, with GBP/USD slipping below the 1.3200 handle during the North American trade to end the day at 1.3189. Interested in trading the U.K. CPI report but don’t have a plan? Download and review the DailyFX Advanced Guide for Trading the News for FREE to learn our 8 step strategy.

GBP/USD Daily Chart

GBP/USD Daily Chart
  • GBP/USD remains confined by the monthly opening range, but the broader outlook remains constructive especially as both price & the Relative Strength Index (RSI) break out of the bearish formations carried over from September.
  • Lack of momentum to test the October-low (1.3027) may spur a test of the November-high (1.3321), with a closing price above the Fibonacci overlap around 1.3300 (100% expansion) to 1.3320 (38.2% retracement) raising the risk for a move back towards 1.3370 (78.6% expansion), which sits just below the October-high (1.3402).
  • However, break/close of the monthly-low (1.3040) brings the Fibonacci overlap around 1.2950 (23.6% expansion) to 1.2960 (78.6% retracement) back on the radar, with the next downside region of interest coming in around 1.2800 (50% expansion) to 1.1860 (61.8% retracement).

Want more insight with all the major events on tap this week? Join DailyFX Currency Analyst David Song LIVE for an opportunity to cover key market themes along with potential trade setups!

--- Written by David Song, Currency Analyst

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.

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