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:
British Pound (GBP) Price Outlook: GBP/USD Rallying After Hot UK Inflation Data

British Pound (GBP) Price Outlook: GBP/USD Rallying After Hot UK Inflation Data

Martin Essex, MSTA, Analyst

GBP price, inflation, news and analysis:

  • UK inflation numbers for June came in above economists’ expectations Wednesday, helping GBP/USD rally after Tuesday’s fall in the wake of US inflation data that also beat forecasts.
  • However, the impact of the UK CPI (consumer price index) numbers has been offset by weaker than predicted UK PPI (producer price index) data that suggest inflation could turn lower soon – a negative for GBP.

GBP/USD improves after UK inflation data

UK inflation data beat economists’ expectations Wednesday, with the headline consumer price index rising 2.5% year/year in June, above both the previous 2.1% and the predicted 2.2%. That helped strengthen GBP/USD after its drop Tuesday on US inflation numbers that were also well above forecasts.

British Pound (GBP) Price Outlook: GBP/USD Rallying After Hot UK Inflation Data

Source: DailyFX calendar

Check out here how CPI data affect currency prices

However, the impact of the latest statistics was offset by weaker than expected producer price index numbers that suggest CPI inflation could soon fall back as weaker than predicted input costs and factory gate prices work their way into the shops.

British Pound (GBP) Price Outlook: GBP/USD Rallying After Hot UK Inflation Data

The initial response in GBP/USD to the latest statistics was a recovery after the pair’s sharp fall Tuesday on news of hotter than predicted US inflation. However, there could be some limited downside ahead given the PPI data that reopen the debate about whether inflation worldwide is transitory or now embedded in the global economy. On the basis of these numbers the answer could be transitory, in the UK at least.

GBP/USD Price Chart, Ten-Minute Timeframe (July 13-14, 2021)

British Pound (GBP) Price Outlook: GBP/USD Rallying After Hot UK Inflation Data

Source: IG (You can click on it for a larger image)

However, the mood could change again. The next UK data release is Thursday’s employment report and if that shows average earnings still galloping ahead it could help GBP/USD higher.

--- Written by Martin Essex, Analyst

Feel free to contact me on Twitter @MartinSEssex

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