Oct 14th 2015: Pound Rallies after CPI Shock

Morning Report: 09.00 London

  • This morning, the dollar index is once again on the retreat after a brief rally yesterday on the back of disappointing German ZEW economic sentiment data. This comes despite Chinese inflation coming in below expectations this morning.

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  • The euro is rallying this morning after those disappointing German figures, maintaining its gains against the pound from yesterday.

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  • The pound suffered a shock yesterday after CPI data came in negative (just), sending the GBP/ USD and other pairs shooting lower. Sterling is staging a recovery this morning, but the GBP/ JPY is lagging.

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  • Commodity currencies are also recovering from yesterday’s Chinese miss, with gold continuing to zip towards the highs.

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Coming up today: 
  • Coming up today we have UK average earnings at 09.30, released alongside claimant count change data and the unemployment rate.
  • From 13.30, we switch to the US for PPI and retail sales data. w
Trade Idea: 
  • Markets took a big swipe at the AUD/ USD yesterday, but the momentum story is still there. China’s wobble looks controllable so far, especially with the fed backing off.

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This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice. 


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