U.K. Inflation Holds Steady, Eyes on U.S. Retail Sales

Updated : Aug 15, 2017, 08:37 UTC2min read
U.K. Consumer Price Index Holds Steady at 2.6% The U.K released its Consumer Price Index data this morning. The Bank of England like the U.S Federal Reserve has made it clear inflation data is a major consideration regarding its monetary policy. Inflation rate YoY remained unchanged at 2.6%, the core
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U.K. Consumer Price Index Holds Steady at 2.6%

The U.K released its Consumer Price Index data this morning. The Bank of England like the U.S Federal Reserve has made it clear inflation data is a major consideration regarding its monetary policy. Inflation rate YoY remained unchanged at 2.6%, the core inflation rate also unchanged at 2.4%. The 1.29 level appears to be support in the short term for the British currency.

Dow Jones Propels Upwards

The major Indexes propelled higher on Monday, and the Dow Jones Industrials will enter today’s trading a touch below the 22,000 level. Critical Retail Sales data will come from the States. The U.S Dollar has been stronger against the major currencies in the short term. And traders should remember the Federal Reserve’s Meeting Minutes publication is tomorrow and could shake the broad markets.

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Yen Weaker in Early Trading

Japanese equities have rebounded as the Nikkei and Topix Indexes have led the Asian markets higher. The Yen has continued to show weakness and has broken through short term resistance and is above the 110.00 level against the U.S Dollar again. While economic data from China proved disappointing with its Industrial Production figures yesterday, the Shanghai Shenzhen composite has gained nearly 9 and half percent the past year.

Crude Oil Sellers Take Control Again

Crude Oil has come under a wave of pressure the past few trading sessions. The 47.00 U.S Dollars a barrel juncture has come into sight for the commodity as sellers have become a powerful force again in Crude Oil and are seemingly intent on testing the lower depths of the commodity’s mid-term range.

Yaron Mazor is a senior analyst at SuperTraderTV.

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