When is the UK inflation data and how could it affect GBP/USD? UnitedKingdom Inflation GBPUSD Events RiskAversion
The cost of living in the UK as represented by the Consumer Price Index for February month is due early on Wednesday at 07:00 GMT.
That said, the headline CPI inflation is expected to decline further from the 41-year high marked in October while easing to 9.8% YoY in February, versus 10.1% prior. Further, the Core CPI, which excludes volatile food and energy items, is likely to remain stagnant near 5.8%. Talking about the monthly figures, the CPI could jump to 0.6% versus -0.6% prior.
That said, the recent improvement in the British data and expectations of overcoming the labor problems, and softer UK inflation data may help the GBP/USD bears to retake control. However, the UK CPI may have a little less important for the Cable traders this time as the Fed’s verdict and voting on the Brexit bill in the UK’s House of Commons loom. Even so, a strong UK inflation figure won't hesitate to pleaseTechnically, a four-month-old horizontal resistance area surrounding 1.
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