Live FxPremiere News today on British Pound Overlook UK CPI Disappointment
British Pound Overlook UK CPI Disappointment
Global FX News on British Pound Overlook UK CPI Disappointment updated.
Talking Points by FxPremiere Group:
Pound may ignore UK CPI absent major disappointment
Euro to look past ZEW data as ECB clings to status quo
US Dollar may fall as the Yen gains on Sessions testimony
UK CPI data headlines the economic calendar in European trading hours. The headline on-year inflation rate is expected to print at 2.9 percent in May 2017, unchanged from the prior month. Anything short of significantly disappointing outcome seems unlikely to have a lasting impact on the British Pound.
Political uncertainty after last week’s snap election seems likely to mean that the status quo is the best-case scenario for near-term BOE monetary policy. Softer inflation following four months of deteriorating news-flow against this backdrop may stoke stimulus expansion bets, sending the UK unit lower.
The US Dollar may turn lower if traders interpret Mr Sessions’ testimony as deepening US political uncertainty and opening the door for market turmoil that sidelines the Fed in the second half of the year. An immediate risk-off reaction is also likely to boost JPY.
- USD/JPY is in a strange place. It is below an impressive uptrend but could yet hold on
- Much may depend on this week’s close news analysis.
- Meanwhile, AUD/JPY looks more precarious. Bulls must defend mid-April’s low level. Fx Signals Technical Analysis Japanese Yen Still Waiting For A Break
As one of the most popular currency pairs on the forex market, the USD/JPY is a versatile, high volume currency with many unique traits.
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