The Pound is consolidating. Overview for 17.01.2019

17.01.2019

On Thursday, GBPUSD is trading steadily and waiting for the news.

The British Pound is looking quite stable against the USD on Thursday morning. The current quote for the instrument is 1.2870. 

The British Prime Minister Theresa May remains on her position. The vote of no confidence didn’t pass as she won 325 to 306. It’s a rather fragile balance, but that’s the way it is, so May should consider herself being a little bit lucky. 

Yesterday’s statistics from the United Kingdom went on the back burner due to the Brexit vote in the Parliament and the vote of no confidence that followed later. However, the numbers are surely worth paying attention to. The CPI was 2.1% y/y in December after being 2.3% y/y in November. The Core CPI was 1.9% y/y against the previous reading of 1.8% y/y. The PPI Input lost 1.0% m/m in December after decreasing by 2.6% m/m the month before. The PPI Output dropped by 0.3% m/m after losing 0.1% m/m in November. 

One can see that the prices in the United Kingdom tend to be unstable and don’t require a lot of reasons to reverse the trend.   

Later in the afternoon, the country is scheduled to publish the BOE Credit Conditions Survey, which may contain several unpleasant surprises. 

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.