US and UK inflation to lead us this week
With little data out today from all areas, we look to the week ahead for inspiration to the next moves. The pound is already on […]
With little data out today from all areas, we look to the week ahead for inspiration to the next moves.
The pound is already on the back foot and carrying on from last week, and tomorrow’s CPI data is an expected 0.0%. This added with the election run-up could be the main reason we are seeing pressure on the pound.
The euro is also in a tight range since the open of around 40 points and data-wise we look to Wednesday and the ECB press conference interest rate announcement, which is expected not to change. However this is always a volatile time for the euro as Draghi will talk about how the QE is getting on.
In the US tomorrows, retail sales are expected to rise back into positive percentages, and at the end of the week we look at the US CPI data set to be at a steady 0.2%.
EUR/USD
Supports 1.0550-1.0500-1.0430 | Resistance 1.0670-1.0735-1.0790
USD/JPY
Supports 119.95-119.70-119.35 | Resistance 120.55-120.90-121.15
GBP/USD
Supports 1.4570-1.4500-1.4430 | Resistance 1.4715-1.4790-1.4850