Previous Trading Days Events 17.07.2024

Inflation in the U.K. eased less than expected and a key core measure of prices barely dropped. The consumer price index CPI rose by 2.3 in the 12 months to April, down sharply from Marchs 3.2 increase and its lowest since July 2021, the Office for National Statistics said.

Services inflation a gauge of domestic price pressure for the BoE which is also a problem in other European countries was much higher than expected, and petrol prices rose.

This is only one months data, but it is enough of a surprise to suggest that the inflation process is not tracking as the BoE had expected, Allan Monks, chief UK economist at JP Morgan, said.

There is still another labour market and CPI report to come before the June meeting, but it is difficult for us to see what that could realistically do to leave most members feeling confident about cutting in June specifically.

Source

httpswww.reuters.comworldukukinflationrateslows23april20240522

Winners vs Losers

Gold is gaining 2.44 this week and leads for the month as well with 6.14 gains. USD pairs follow USD as quoted since the dollar is losing strength.

News Reports Monitor Previous Trading Day 17.07.2024

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Midnight Night Session Asian

No important news announcements, no important scheduled releases.

Morning Day Session European and N. American Session

At 145 the NZ CPI quarterly data release showed that New Zealand inflation…