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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
Low
High
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
USD/JPY
Bullish
More View more
Real Time News
  • 🇪🇸 Markit Manufacturing PMI (FEB) Actual: 52.9 Expected: 52 Previous: 49.3 https://www.dailyfx.com/economic-calendar#2021-03-01
  • Forex Update: As of 08:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.62% 🇳🇿NZD: 0.54% 🇨🇦CAD: 0.39% 🇪🇺EUR: -0.01% 🇯🇵JPY: -0.06% 🇨🇭CHF: -0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/GsYVGf2e8D
  • Heads Up:🇨🇭 https://t.co/IuJgBT6cP0 Manufacturing PMI (FEB) due at 08:30 GMT (15min) Expected: 60 Previous: 59.4 https://www.dailyfx.com/economic-calendar#2021-03-01
  • Indices Update: As of 08:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 1.45% France 40: 1.26% Germany 30: 1.20% US 500: 1.15% Wall Street: 0.97% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/IJvDb1nDQE
  • Heads Up:🇪🇸 Markit Manufacturing PMI (FEB) due at 08:15 GMT (15min) Expected: 52 Previous: 49.3 https://www.dailyfx.com/economic-calendar#2021-03-01
  • Euro Price Forecast: EUR/USD, EUR/JPY Eyeing ECB Weekly Bond Purchases - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2021/03/01/Euro-Price-Forecast-EURUSD-EURJPY-Eyeing-ECB-Weekly-Bond-Purchases.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $EUR $EURUSD $EURJPY https://t.co/2phQjBQPO1
  • 🇨🇭 Retail Sales YoY (JAN) Actual: -0.5% Previous: 5.4% https://www.dailyfx.com/economic-calendar#2021-03-01
  • Heads Up:🇨🇭 Retail Sales YoY (JAN) due at 07:30 GMT (15min) Previous: 4.7% https://www.dailyfx.com/economic-calendar#2021-03-01
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here: https://t.co/Blrl0uF2Ct https://t.co/y5QA5ZNvgs
  • 🇷🇺 Markit Manufacturing PMI (FEB) Actual: 51.5 Previous: 50.9 https://www.dailyfx.com/economic-calendar#2021-03-01
British Pound Unfazed by Mixed CPI data, Slight Miss to Expectations

British Pound Unfazed by Mixed CPI data, Slight Miss to Expectations

Oded Shimoni, Junior Currency Analyst

Talking Points:

  • The British Pound little changed versus other major currencies
  • UK’s Core CPI at 1.2%, below expectations
  • Headline CPI rises to 0.3% year-on-year, as expected

Find Key Turning Points for the British Pound with DailyFX SSI

The British Pound was little changed versus other major currencies (at the time this report was written) after the UK’s Consumer Price Index (CPI) figures released today showed mixed figures in January. Headline CPI showed an annual rise of +0.3% percent, as was expected by economists, which was above the December reading of +0.2%. The month on month figure came below expectations printing -0.8%, below the prior +0.1% and the expected figure of -0.7%. Core CPI, which excludes volatile factors such as food, energy, alcohol, and tobacco, printed +1.2%, below the expected +1.3% figure and the prior +1.4% print. Looking into the report, the Office for National Statistics said that the main contributors to the rise in the rate were motor fuels, and to a lesser extent food, alcoholic beverages and clothing. This is in line with the mixed figures from the core and the headline reading, as the volatile element excluded from the Core figure contributed the most to headline CPI.

CPI readings are a key measure for the BoE in deciding monetary policy. In their latest Quarterly Inflation Report at the beginning of the month, the BoE said they see inflation, at +1.2% in Q1 2017, down from a projection of +1.5% from November’s Inflation Report. The Monetary Policy Committee (MPC) commented that risks to the central projection are skewed a little to the downside in the near term, reflecting the possibility of greater persistence of low inflation. It seems that the figures today did little to sway market bets on possible implications for the BoE; while the headline figure rose slightly, the Core figure declined, and the British Pound was little changed versus other major currencies.

GBP/USD 5 Minute Chart

British Pound Unfazed by Mixed CPI data, Slight Miss to Expectations

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

DISCLOSURES