UK CPI | Current Sentiment

Jarratt Davis

Special Consultant to the FPA
There is no trade call for the session. The main highlight of the day will be CPI data from the UK at 9.30am BST.

Current Sentiment:

There was no tier 1 data released in the Asia-Pacific session, NAB Business Confidence from Australia however printed at 6, double last months reading of 3 and the highest reading since July of last year, this has supported AUD with AUDUSD rallying by around 50 pips since the release.

In other news, according to the Real Estate Institute of New Zealand, house sales increased by 8.2% y/y, up 30.7% m/m but 5.5% m/m seasonally adjusted, with the national median price up 4.2% y/y and 10% m/m. The continued strength of house prices is likely to continue weighing on the RBNZ as one of the main arguments for holding rates steady, instead of cutting further.

UK CPI release was also covered in weekly risk events video here.

P.S. - If you want to learn more about how I trade, check out the link below

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