How Did CPI Affect The Pound?

The Consumer Prices Index including owner occupiers' housing costs (CPIH) is the most comprehensive measure of inflation in the UK. It extends the Consumer Prices Index (CPI) by including owner occupiers' housing costs (OOH) and Council Tax, both significant household expenses not covered by the CPI. The CPI is a widely used inflation measure and is used in the government's inflation target. The Retail Prices Index (RPI) is still published but does not meet the required statistical standards, and changes are planned to integrate CPIH into RPI by 2030. In September 2023, the annual RPI inflation rate was 8.9%. Additionally, the UK Statistics Authority provides tools like a personal inflation calculator and shopping prices comparison to help individuals understand how inflation affects their spending.

GBPUSD - D1 Timeframe

After reacting from the trendline support on the daily timeframe chart as seen above, GBPUSD broke the internal structure and now seems to have completed a retest of the drop-base-rally demand zone that overlaps the trendline. In this case, my expectation is to see a continuation of the bullish movement with the 50-Day moving average as my target.

Analyst’s Expectations: 

Direction: Bullish

Target: 1.23410

Invalidation: 1.20881

GBPAUD - D1 Timeframe

GBPAUD in like manner as was seen on the GBPUSD chart has also reacted from the trendline. The current pullback, however, appears to be aimed at retesting the demand zone that overlaps the trendline support. In line with this expectation, I will patiently wait for price to approach the demand zone before seeking an entry.

Analyst’s Expectations: 

Direction: Bullish

Target: 1.92325

Invalidation: 1.88514

GBPJPY - D1 Timeframe

GBPJPY on the daily timeframe is quite tedious to read, owing to the multiple internal structures to the left of the chart. In this particular case, I will rely on the bullish array of the moving averages as well as the reaction from the trendline support as the basis for my bullish sentiment.

Analyst’s Expectations: 

Direction: Bullish

Target: 184.064

Invalidation: 180.891

CONCLUSION

The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.

TRY TRADING NOW

You can access more trade ideas and prompt market updates on the telegram channel.

Author: Adetola-Freeman Ogunkunle

Lainnya dari penulis ini

Menyerupai

29.03.2024 10:39 Pasar Waspadai Rilis PCE AS Meski Sebagian Besar Libur Jumat Agung

Pasar saham Asia sebagian besar libur untuk Jumat Agung pada perdagangan Jumat (29/03/2024). Dolar AS juga menguat terhadap euro sebelum data inflasi utama AS

29.03.2024 03:42 AUDUSD Berbias Bearish di Tengah Risk-Aversion

Dolar Australia menguat tipis di awal perdagangan akhir pekan ini, namun masih dalam tren penurunan. Pasar diperkirakan sepi karena memperingati Jumat Agung. Dolar AS menguat karena data ekonomi AS menunjukkan ekspansi,

28.03.2024 08:13 Data Ekonomi Australia Melemah, Seiring Melemahnya Inflasi

Pasar saham Asia memiliki sentimen sideways dengan bias bearish pada perdagangan Kamis (28/03/2024), karena adanya sentimen ketidakpastian menjelang data indeks harga PCE AS..penjualan ritel Australia dirilis lebih kecil dari perkiraannya.

Berita terbaru

02.04.2024 07:03 Yen Terus Terpuruk Mendekati Level Terendah Multi-Dekade

Yen Jepang gagal memikat para investor pada perdagangan Selasa (02/04/2024) meski ada peluang atas kemungkinan intervensi dan..Sentimen penghindaran risiko masih berpotensi memberikan kekuatan pada safe-haven

01.04.2024 08:22 Sanggupkan Emas Berlama-lama di Puncak?

XAUUSD naik ke rekor tertinggi baru pada perdagangan Senin (01/04/2024), di tengah meningkatnya spekulasi penurunan suku bunga..melanjutkan kenaikan kuat minggu lalu hingga membentuk level puncak baru sepanjang masa

01.04.2024 07:11 Sebagian Pasar Masih Libur, Yen Stabil di Bawah 152

Pasar saham Asia sebagian masih libur dan sebagian lagi menguat pada perdagangan Senin (01/04/2024), karena optimisme data pabrikan Tiongkok mendukung..potensi intervensi otoritas Jepang terhadap yen Jepang diperkirakan berada di zona 152 – 155 yen.