The GBP/USD pair barely moved on Tuesday afternoon, as investors assess the impact of raw news and analyze British statistics.
Today, investors have a busy day. Capital markets have different opinions today's news about the agreements between Russia and OPEC, and are in no hurry to make far-reaching conclusions, watching the reaction of the US dollar. The GBP/USD pair is barely moving, the current price of the instrument is 1.4431.
Today, the United Kingdom has published statistics on inflation. In January, the annual consumer price index in the UK rose to 0.3%, and that is a maximum in the last 12 months. The indicator has coincided with forecasts, but it is not so on the monitoring of monthly inflation. In January, inflation slipped by 0.8% m/m against the forecast of a reduction by 0.7%.
Whatever it was, the January surge of enthusiasm in the annual calculation of inflation does not mean a change in the situation itself. The target of the CPI in the UK is exactly the same as that of other major economies - 2%. According to expectations from the Bank of England, the whole of the current year inflation will remain below 1%, while the target with can be achieved only by 2018. So far this sounds quite logical, given the world situation.
The UK economy looks fairly stable even in the face of an external economic storm. However, what happens outside its borders, could undermine the foundation of this fragile being. GDP growth rates are not as extensive as before, the economy needs demand, and this is still a problem.
RoboForex Analytical Department
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