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.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bullish
USD/JPY
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
Gold
Mixed
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
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • Why do you require consistency in trading and why does it matter? Find out: https://t.co/WlEFlluGfZ #tradingstyle https://t.co/TkMtJQKatx
  • By issuing debt denominated in $USD, China is making a long-term bet that it will be cheaper to pay back its loans over time in the US Dollar; it believes the value of the US Dollar will fall. Get your market update from @CVecchioFX here:https://t.co/5GO9UrvO4y https://t.co/xV9urXXf48
  • What are some risk trading management techniques? Find out: https://t.co/RShdlDz9RA #tradingstyle https://t.co/M3ASPIHAep
  • #Dow Jones stages impressive recovery on a firm NFP report. #FTSE 100 eyes UK general election. Get your equities technical analysis from @JMcQueenFX here: https://t.co/o28UcG6N3l https://t.co/SwGAaFCFND
  • Why do you require consistency in trading and why does it matter? Find out: https://t.co/f4y1FOOZnM #tradingstyle https://t.co/x5HgYopWc5
  • The USD may rise if the FOMC re-affirms its data-dependent approach and cools 2020 rate cut bets. US retail sales and CPI data may also give the Fed impetus to hold rates. Get your $USD market update from @ZabelinDimitri here: https://t.co/XnDITaDOox https://t.co/A480uVMqF2
  • What tools does the ECB have left to stimulate the Eurozone? Where is the #Euro heading? Find out from Chief Eurozone Economist at Pantheon Macroeconomics Claus Vistesen only on Trading Global Markets Decoded #podcast hosted by @MartinSEssex here:https://t.co/Twr44cZ1GB https://t.co/DXlDH5Cp9e
  • The price of oil extends the advance from the October low as #OPEC and its allies pledge to take additional steps to balance the energy market. Get your crude #oil market update from @DavidJSong here: https://t.co/llGq8yPFH4 #OOTT https://t.co/1OCVOIrK98
  • Gold closed lower after paring early-week gains post-NFP on Friday. But will price finally break support? These are levels that matter on the XAU/USD weekly chart. Get your gold technical analysis from @MBForex here: https://t.co/ovGheRg4MQ https://t.co/ZEQSYktj0w
  • What is your #tradingstyle? Take the quiz and let us know: https://t.co/LPBOcS0Vtd https://t.co/l6FvtcADEH
Daily FX European Market Outlook: The UK’s Inflation Rate pushes above the Bank of England's 2%

Daily FX European Market Outlook: The UK’s Inflation Rate pushes above the Bank of England's 2%

2017-03-21 14:55:00
Katie Pilbeam,
Share:

The UK’s latest inflation rate pushes above the Bank of England's 2% thanks to rising fuel and food prices. The figures now sit at 2.3%, the highest since September 2013. Sterling weakness has contributed to this gain with food prices recording their first annual increase for more than two-and-a-half years, standing 0.3% higher in February than a year earlier. Looking ahead. The Bank of England expects inflation will peak at 2.8% next year. This reading has sparks speculation that a central bank rate rise could soon be on the agenda. In response Sterling hit a three-week high on the back of this report. Technically, the pound’s exchange rate against the dollar has today broken to the upside from a falling channel it had been in since the start of February. The ONS also reported that the UK’s public sector net borrowing fell to the lowest figure in 10 years. It dropped £2.8bn to £1.8bn last month and government borrowing marked the lowest year-to-date borrowing figure since February 2008. Meanwhile corporation tax and National Insurance contributions rose. Oil prices are gained during the European session on unconfirmed reports that an OPEC-led output cut would be extended beyond June. {ANI} But these gains are being held back by the constant high crude inventory reports. The price of Brent crude has tumbled from 57 dollars a barrel at the start of this month but it has been recovering over the last few days and is now close to 52 dollars after a low only just above 50.

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

DISCLOSURES

News & Analysis at your fingertips.