The GBP/USD pair is trading downwards on Tuesday; sales continue for the third consecutive day without looking back at statistics.
The British Pound is “getting thinner” right before our eyes. Bears are controlling the GBP/USD pair for the third day in a row. The current quote for the instrument is 1.4273; the price is moving away from the upper border of its mid-term trading range.
Today, the United Kingdom published a serious amount of macroeconomic statistics. The inflation in England in the base value in February was 1.2% y/y, the same as predicted. The CPI last month in the country was 0.2% m/m against the expected number of 0.4% m/m. On a year-on-year basis, the inflation in February was 0.3%, behind forecasts as before.
It is indicated in the CPI report that retails prices in February increased by 1.3% /y and 0.5% m/m. Both numbers matched the predictions.
The PPI Input in February increased by a tiny number of 0.1% m/m against the predicted number of 0.6% m/m. On a year-on-year basis, the indicator is deep in the negative zone, -8.1%. As for the PPI Output, in February it increased by 0.1% m/m and decreased by 1.1% y/y.
All this statistics on price levels varies a lot. Great Britain still can’t handle the decrease of retail and producers prices at the time when the energy market is too volatile. The statistics published earlier indicated that the British people would lie to spend, but perspectives are not so bright. The inflation will still be torn between the weakly positive and moderately negative areas as long as the domestic demand isn’t stably optimistic and households aren’t spending as much as consumers. Of course, there is little positive here for the British Pound.
RoboForex Analytical Department
Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.