February 4, 2023

When is the UK inflation and how could it affect GBPUSD?

Given the recently released unimpressive jobless benefits claims and sky-rocketing uncertainty ahead of the Autumn Statement first under the leadership of UK Prime Minister Rishi Sunak, today’s data will be watched closely by the GBPUSD traders.  Regarding the monthly figures, the CPI is expected to escalate vigorously to 1.7% against 0.5% reported earlier. PPI Core Output YoY is seen as stable at 14% on a non-seasonally adjusted basis whereas the monthly prints could shift higher to 1.3% versus 0.7% the prior release. Technically, the cable is displaying a balanced auction profile in a range of 1.1832-1.1888 as a position build-up post the release of the UK inflation figures and the Autumn Budget will be more informed. 

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Will Autumn be tight for the British population?

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