The main focus today is the U.K. CPI as well as the U.S. retail sales. Sterling seems to be confused, while the dollar has rebounded over the last trading sessions and traded higher versus the G10 basket. Euro remains unchanged as it was moved mixed against the major currencies and there are no significant indicators scheduled for release today.
U.K. CPI Is Expected to Release; Sterling Remains Unchanged
Market’s attention today will be at U.K. CPI, PPI and retail price index for July. The headline CPI is expected to tick higher to 2.7% from 2.6% in June. The retail price index is expected to remain unchanged at 3.5% year-over-year in June. Sterling has been developing within a narrow range against the greenback over the last six trading days but this may change with the inflation, employment and consumer spending numbers scheduled for release this week.
Read the full financial markets daily report on JFD Research.