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GBP/USD Daily Forecast – 12 January

Friday, Jan 12 2018
GBP/USD Daily Forecast – 12 January

There were no data releases from the UK yesterday. In the US session, Unemployment Claims and PPI data was released. In the week ending January 6, the advance figure for seasonally adjusted initial claims was 261,000, an increase of 11,000 from the previous week's unrevised level of 250,000. The 4-week moving average was 250,750, an increase of 9,000 from the previous week's unrevised average of 241,750. Claims taking procedures continue to be disrupted in the Virgin Islands. The claims taking process in Puerto Rico has still not returned to normal.

The Producer Price Index for final demand fell 0.1 percent in December, seasonally adjusted, the  U.S. Bureau of Labor Statistics reported today. Final demand prices advanced 0.4 percent in both  November and October. (See table A.) On an unadjusted basis, the final demand index climbed  2.6 percent in 2017 after a 1.7-percent rise in 2016. Most of the December decline in the final demand index is attributable to a 0.2-percent decrease in prices for final demand services. The index for final demand goods was unchanged. Prices for final demand less foods, energy, and trade services edged up 0.1 percent in December after rising 0.4 percent in November.

 

There will be no major data releases from Eurozone tomorrow. In the US session CPI an Retail Sales figures will be published. Analysts predict incline by 0.5% in Retail Sales and 0.1% increase in CPI.

 

Figures to watch:

 

CPI (Friday 14:30)

Retail Sales (Friday 14:30)

More in this category: « AUD/USD Daily Forecast – 12 January EUR/USD Daily Forecast – 12 January »

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