The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.
U.K CPI remains unchanged at 0.2% as previous month, U.K CPI was expected to be unchanged 0.2% last month.
Year-Over-Year U.K Consumer Price Index (CPI) rose to 0.1%, from -0.1% in the previous month. U.K Consumer Price Index (YoY) was expected to rise to 0.1% last month.
Market Impact : A corrective pullback towards the 1.5553 levels before the next rise is likely as daily chart suggests , note that the pair may fluctuate around 1.5553 levels before the next rise .
According to 4-hour chart, the pair has already printed support at the 1.5544 levels, a failure to hold below the 1.5544 levels on a 4 hour closing basis could mean a return to the 1.5631 levels, a clear break below 1.5544 will suggest further down towards the 1.5485/1.5420 levels before the next rise….volatility is suggested around 1.5544 levels…