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The British Pound weakened against the Greenback, following the releases of the UK Consumer Price Index and Producers Price Index. The GBP/USD currency pair lost 25 base points, or 0.18%, reaching the 1.4029 level, to continue fluctuating in the 1.4032 area.
The Office for National Statistics revealed less-than-expected data regarding both Consumer Price Index and Producers Price Index input. However, the CPI growth in February was 2.7%, following 3% growth in the prior month, the PPI input was recorded at negative 1.1%, after a 0.7% rise in the previous period. The downturn in the GBP/USD currency pair was mainly led by the lack of positive data, following pairs' surge from Brexit agreements as seen on yesterday.
| Historical Data Table: UK CPI y/y | Economic Calendar for 20.03.2018 | ||||||||
| Date | 14.11.2017 | 12.12.2017 | 16.01.2018 | 13.02.2018 | 20.03.2018 | All day | G20 Meetings | ||
| Actual | 3.00% | 3.10% | 3.00% | 3.00% | 2.70% | 12:30 PM | CAD Wholesale Sales m/m | ||
| Forecast | 3.10% | 3.10% | 3.00% | 2.90% | 2.80% | Tentative | NZD GDT Price Index | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 1.40539 | 1.4029 | -0.18% | GBP/USD | 52.80% | 47.20% | |||
| EUR/GBP | 0.87791 | 0.87804 | 0.01% | EUR/GBP | 38.24% | 61.76% | |||
| GBP/CAD | 1.83536 | 1.83424 | -0.06% | GBP/CAD | 29.86% | 70.14% | |||
| GBP/JPY | 149.183 | 149.18 | 0.00% | GBP/JPY | 46.39% | 53.61% | |||