wrapper

Sterling down after disappointing PPI figures

Tuesday, Jun 16 2015
The Consumer Prices Index rose by 0.1% in the year to May 2015, compared with a 0.1% fall in the year to April 2015. This was in line with market expectations. The largest upward contribution to the change came from transport services, notably air fares with the timing of Easter in April a likely factor in the movement. There were also significant upward effects from food and motor fuels.The largest offsetting downward effect came from recreation and culture, particularly games, toys and hobbies and data processing equipment.
 
On the other side, the price of goods bought and sold by UK manufacturers, as estimated by the producer price index, continued to fall in the year to May 2015, with petroleum and crude oil being the main drivers. Downward impact for Sterling came from PPI Input data that showed 0.9% decrease, thus missing heavily forecasts on 0.7% rise. The overall price of materials and fuels bought by UK manufacturers for processing (total input prices) fell 12.0% in the year to May 2015, down from a fall of 11.0% in the year to April 2015.
 
After the data Sterling was pushed lower and is currently being traded around 1.5580 level. Pair is likely to find support around 1.55 handle and resistance above 1.56 area. Later today, in the US session, Building Permits and Housing Starts figures were released.
More in this category: « RBA sees monetary policy remaining accommodative ZEW Economic Sentiment fell in June more than expected »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.