Previous Trading Days Events 14 Feb 2024

The U.K.s inflation report yesterday showed that it holds steady at 4 in January. Unexpected and defied analyst forecasts of a rise which is why the GBP has weakened at the time of the release. Investors formed expectations that cutting interest rates this year is more likely to take place, with many targeting June.

Services inflation rose slightly to 6.5 but was not as strong as the central bank expected.

Source

httpswww.reuters.comworldukukinflationunchanged4january20240214

Winners vs Losers

USD pairs with USD as base climbed to the top after the U.S. inflation report release on the 13th Feb. Currently, USDCHF is on the top of the winners list with 1.14 gains and with the top 2.52 performance for the month so far.

News Reports Monitor Previous Trading Day 14 Feb 2024

Server Time Timezone EEST UTC 0200

Midnight Night Session Asian

No important announcements, no special scheduled figure releases. 

Morning Day Session European and N. American Session

At 900, annual inflation for the U.K. was reported at 4, thus no change. On a monthly basis, CPI fell by 0.6 in January 2024, the same rate as in January 2023. The market reacted heavily to the news with GBP depreciation. The dollar appreciated at 900 as well against other currencies. The GBPUSD dropped near 40 pips at that time. 

General Verdict

High volatility postinflation reports for the U.S. EUR, GBP and USD were greatly affected. The…