The Pound is trying to recover. Overview for 12.12.2017

The GBP/USD pair has been under pressure since early December, but is still hoping to recover.

The British Pound is trading upwards a little bit against the USD on Tuesday. The current quote for the instrument is 1.3348.

In the afternoon, the United Kingdom published several statistical reports, which will be analyzed by investors until the end of the day. The most important news is that the inflationary pressure is rising. The CPI increased up to 3.1% y/y in November after being 3.0% y/y in October and the same expected reading. The Core CPI remained unchanged, at 2.7% y/y.

The Retail Price Index, in its turn, retreated a bit in November up to 3.9% y/y after being 4.0% y/y the month before. The HPI fell up to 4.5% y/y after being 4.8% y/y in October.

Everything, which is connected to the latest price tendencies, is already reported in these numbers. One can see that the CPI is still moving upwards, but a little bit slower that earlier. It’s good for the Bank of England, because they won’t have to change the regulator’s monetary policy entirely. The next meeting of the BoE is scheduled for this Thursday, December 14^th.

The PPI Input expanded up to 1.8% m/m after being 1.6% m/m in the previous month. The PPI Output increased up to 0.3% m/m, which looks pretty fine.

RoboForex Analytical Department