When is the UK inflation data and how could it affect GBP/USD? – by anilpanchal7 UnitedKingdom Inflation GBPUSD CPI Events
The cost of living in the UK as represented by the Consumer Price Index for May month is due early on Wednesday at 06:00 GMT.
Also important to watch is the Retail Price Index figures for May, expected to mark a reduction to 0.5% MoM and 11.2% YoY versus 1.5% and 11.4% priors in that order.GBP/USD stays defensive above 1.2750, mildly bid near 1.2765 by the press time, as it lacks follow-through of the previous two days’ downbeat performance ahead of the key UK inflation data.
Technically, the Cable pair recently bounced off the bottom line of the stated rising wedge, which in turn joins the steady RSI to suggest further recovery of the quote. However, the 21-SMA surrounding 1.2435 restricts the immediate upside of the GBP/USD price.About the UK CPIs If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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