OctaFX | OctaFX Forex Broker
Open trading account
Back

Flash: UK data in focus today - BTMU

FXstreet.com (Barcelona) - Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the release of the latest UK inflation report for April will be the main focus during the European trading session.

He adds that the annual rate of headline inflation is expected to ease modestly driven by lower prices for fuel, food and the hotels/restaurants component after a sharp price rise last year. Further, the latest Quarterly Inflation Report revealed that the BoE is expecting an annual rate of inflation of 2.6% in April. He expects inflation to remain above the BoE’s 2.0% target until the 2H 2015, although falling commodity prices has increased downside risks. He writes, “The release of the latest MPC minutes tomorrow will be closely watched to assess whether the improving inflation or growth outlook is dominating near-term policy direction. A shift away from additional monetary stimulus would support the pound in the near-term whereas should lower inflation be judged as allowing more scope for easing to support growth it would likely weigh upon the pound.”

USD/CAD holding in positive territory at 1.0256/57

The USD/CAD has seesawed back and forth, albeit edging higher overall in a positive consolidation during European trading Tuesday.
Read more Previous

USD/CHF 0.9670 lower in European session

The pair has been leading the market of late and had gapped out on the charts on Friday to break the 0.9700 level on a broad based dollar rally reaching a high of 0.9717 yesterday. As mentioned, gaps tend to get filled, and the pair retraced those gains back down to a low 0.9647 overnight.
Read more Next
Start livechat