The Pound will evaluate the statistics. Overview for 20.10.2021

 

GBPUSD stopped growing; market players are analysing the statistic on prices. 

The British Pound slowed down its growth against the USD on Wednesday. The current quote for the instrument is 1.3780.

Earlier today, the United Kingdom released several reports on prices, which obviously confused investors and made the national currency move away from its highs. 

For example, the Consumer Price Index in the UK in September was 3.1% y/y. In August, it was 3.2% y/y and no one expected it to change. The Core CPI showed 2.9% y/y after being 3.1% y/y the month before. Another indicator, the RPI, was 4.9% y/y after being 4.8% y/y in the previous month. 

The fact that inflation in the UK dropped a little bit without the BoE’s involvement or intervention calms investors down. In this situation, discussions about a possible tightening of the regulator’s monetary policy become a bit irrelevant, at least prices are now out of the picture.

The PPI Input added 0.4% m/m in September, half as many as expected, but the same as in August, which is okay. The PPI Output expanded by 0.5% m/m, the same as expected, after adding 0.7% m/m the month before. 

Producer prices continue rising but businesses and manufacturers managed to balance their performance and readings as problems with deliveries are slowly fading away.

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Source: RoboForex


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