wrapper

GBP/USD Daily Forecast – 15 November

Tuesday, Nov 14 2017
GBP/USD Daily Forecast – 15 November

Yesterday's session brought UK CPI and PPI figures. The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.8% in October 2017, unchanged from September 2017. The inflation rate for food and non-alcoholic beverages continued to increase to 4.1%, the highest since September 2013. Rising prices for food and, to a lesser extent, recreational goods provided the largest upward contributions to change in the rate between September 2017 and October 2017. The upward contributions were offset by falling motor fuel and furniture prices, along with owner occupiers’ housing costs, which remained unchanged between September 2017 and October 2017, having risen a year ago.

The Consumer Prices Index (CPI) 12-month rate was 3.0% in October 2017, unchanged from September 2017. The headline rate of inflation for goods leaving the factory gate (output prices) rose 2.8% on the year to October 2017, down from 3.3% in September 2017. Prices for materials and fuels (input prices) rose 4.6% on the year to October 2017, down from 8.1% in September 2017.Core input inflation was 3.2% on the year to October 2017,  which is the lowest it has been since June 2016.

 

In the US session PPI data was published. The Producer Price Index for final demand increased 0.4 percent in October, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices advanced 0.4 percent in September and 0.2 percent in August. On an unadjusted basis, the final demand index increased 2.8 percent for the 12 months ended in October, the largest rise since an advance  of 2.8 percent for the 12 months ended February 2012. Within final demand in October, prices for final demand services rose 0.5 percent, and the index for final demand goods moved up 0.3 percent.

 

Tomorrow's session will be marked by UK job data. Analysts forecast that number of unemployed should rise by 2,000 while Unemployment Rate should remain unchanged at 4.3%. In the US session CPI, Retail Sales and Empire State Manufacturing Index figures will be released. CPI is expected to rose by 0.1%, while Retail Sales should remain unchanged. Empire State Manufacturing Index should decline to 25.5.

 

Figures to watch:

 

Claimant Count Change/Unemployment Rate (Wednesday 10:30)

CPI (Wednesday 14:30)

Retail Sales (Wednesday 14:30)

Empire State Manufacturing Index (Wednesday 14:30)

More in this category: « EUR/USD Daily Forecast – 13 November AUD/USD Daily Forecast – 15 November »

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.