UK CPI stands at 1.7%, as expected. Positive surprises did come from the RPI, which rose to 2.7%, core CPI, which rose to 1.7% and the HPI which jumped to 6.8%. The headline Consumer Price Index was expected to drop to 1.7% in February from an annual level of 1.9% recorded in January. The Retail Price Index (RPI) was predicted to slide from 2.8% to 2.6%. Core CPI was forecast to remain unchanged at 1.6% and the HPI to rise from 5.5% to 5.7%. GBP/USD traded just under the 1.65 level towards the publication, still licking its wounds from the previous week’s Fed decision. Cable is now above 1.65.  All in all, the headline figure came out as expected and the other numbers helped the pair make a small recovery. Shortcomings were seen in producer prices: PPI input fell by 0. month over month, while it was expected to rise at the same scale. PPI Output remained flat and did not rise 0.2% as predicted. A separate release of the  BBA Mortgage Approvals joined the disappointments camp with a slide from 49.3K to 47.6K. The lower inflation gives breathing space for the Bank of England. Strong growth and a rapid drop of the unemployment rate towards the 7% threshold (7.2% in the latest read) raised expectations for a rate hike. However, the slowdown in inflation, the BOE’s prime mandate, gives space. A rate hike in Q2 2015 is on the cards now. Resistance appears at 1.6550, followed by 1.6620. Support awaits at 1.6450. For more, see the GBPUSD forecast. 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 EUR/USD March 25th – Rangebound As German Business Climate Kenny Fisher 8 years UK CPI stands at 1.7%, as expected. Positive surprises did come from the RPI, which rose to 2.7%, core CPI, which rose to 1.7% and the HPI which jumped to 6.8%. The headline Consumer Price Index was expected to drop to 1.7% in February from an annual level of 1.9% recorded in January. The Retail Price Index (RPI) was predicted to slide from 2.8% to 2.6%. Core CPI was forecast to remain unchanged at 1.6% and the HPI to rise from 5.5% to 5.7%. GBP/USD traded just under the 1.65 level towards the publication, still licking its wounds from the… Regulated 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.
