The annual Consumer Price Index in the UK rose for a change: from 2.4% to 2.6% in July. Early expectations stood on 2.3%. The target of the Bank of England is 1-3%. CPI returned to the 3% level in April after many months of higher price rises. It is still within target. GBP/USD was trading just above 1.57 early in the day and moved a bit higher to 1.5720 just before the release. Also accompanying indicators surprised: Core CPI rose to an annual level of 2.3% and the Retail Price Index (RPI) jumped to 3.2%. Core CPI was expected to remain unchanged at 2.1%. The RPI was also expected to remain at the same level as last month: 2.8%. HPI, which is usually dismissed due to other figures, remained unchanged at 2.3% and didn’t rise to 2.7% as expected. For more on sterling, see the GBPUSD prediction. This lowers the already low chances of a rate cut: BOE Governor Mervyn King played down this option recently. However, having inflation in target allows the central bank to provide more monetary stimulus through its Asset Purchase Facility program (QE). Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Euro-zone contracts as expected, German sentiment disappoints Yohay Elam 9 years The annual Consumer Price Index in the UK rose for a change: from 2.4% to 2.6% in July. Early expectations stood on 2.3%. The target of the Bank of England is 1-3%. CPI returned to the 3% level in April after many months of higher price rises. It is still within target. GBP/USD was trading just above 1.57 early in the day and moved a bit higher to 1.5720 just before the release. Also accompanying indicators surprised: Core CPI rose to an annual level of 2.3% and the Retail Price Index (RPI) jumped to 3.2%. Core CPI was expected to… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
