When is the UK inflation data and how could it affect GBP/USD? UnitedKingdom Inflation CPI Events GBPUSD
The cost of living in the UK as represented by the Consumer Price Index for January month is due early on Wednesday at 07:00 GMT.
That said, the headline CPI inflation is expected to decline further from the 41-year high marked in October while easing to 10.3% YoY in January, versus 10.5% prior. Further, the Core CPI, which excludes volatile food and energy items, is likely to decline to a 6.2% yearly figure versus 6.3% previous readings. Talking about the monthly figures, the CPI could slump to -0.4% versus 0.4% prior.
In doing so, the Cable pair snaps a two-day winning streak while easing from a one-week high. It should, however, be noted that the hopes of overcoming the UK’s labor crisis and the recent hawkish comments from the Bank of England Officials seem to put a floor under the GBP/USD prices.
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