The European single currency fell sharply against the US Dollar, following German inflation final report on Tuesday. The EUR/USD currency pair depreciated 40 base points or 0.33% to the 1.2228 mark.
German consumer price inflation growth accelerated to the strongest level in five years, final report showed on Tuesday. Destatis stated that the country's CPI increased 1.8% on a yearly average in 2017, compared with the prior year's 0.5%. Meanwhile, a yearly increase in the inflation rate was confirmed at 1.7% in December, supported by higher energy prices. Despite a monthly 0.3% drop in wholesale prices, the report showed their 1.8% rise year-over-year in December, while the average WPI index was 3.5% higher, compared with a 2016 average.
| Historical Data Table: UK CPI y/y | Economic Calendar for 17.01.2017 | ||||||||
| Date | 12.09.2017 | 17.10.2017 | 14.11.2017 | 12.12.2017 | 16.01.2018 | 10:00 AM | EU Final CPI y/y | ||
| Actual | 2.9% | 3.0% | 3.0% | 3.1% | 3.0% | 3:00 PM | BoC Interest Rate Decision | ||
| Forecast | 2.8% | 3.0% | 3.1% | 3.1% | 3.0% | 4:15 PM | BoC Press Conference | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 1.37838 | 1.37617 | -0.16% | GBP/USD | 46.11% | 53.89% | |||
| EUR/GBP | 0.88728 | 0.88846 | 0.13% | EUR/GBP | 35.31% | 64.69% | |||
| GBP/CAD | 1.71377 | 1.71123 | -0.15% | GBP/CAD | 58.94% | 41.06% | |||
| GBP/JPY | 152.619 | 152.37 | -0.16% | GBP/JPY | 30.09% | 69.91% | |||