Macro Release: GBP/USD, EUR/USD

Dukascopy Bank Team Dukascopy Bank SA

GBP/USD: UK CPI

The British Pound appreciated against the US Dollar, following the UK CPI data release on Wednesday at 08:30 GMT. The GBP/USD exchange currency rate gained 14 pips or 0.12% right after the release. The British Pound continued trading at the 1.2070 level against the US Dollar.

The Office for National Statistics released the UK CPI data, which came out better-than-expected of 2.1% compared with the forecast of 1.9%.

According to the official release: "Between June and July 2019, there were large upward contributions to the change in the CPIH 12-month rate from games, toys and hobbies, and accommodation services, where prices for both rose by more than a year ago, and from clothing and footwear, and other financial services. There were offsetting downward contributions to change coming from transport services and, to a lesser extent, from domestic fuels principally electricity and gas."

EUR/USD: US CPI

The European Common Currency depreciated against the US Dollar, following the US CPI data release on Tuesday at 12:30 GMT. The EUR/USD exchange currency rate lost 14 pips or 0.13% right after the release. The Euro continued trading at the 1.1215 level against the Greenback.

Bureau of Labor Statistics released the US Core CPI data, which came out better-than-expected of 0.3% compared with the forecast of 0.2%.

According to the official release: "The index for all items less food and energy rose 0.3 in July, the same increase as in June. The July rise was broad-based, with increases in the indexes for shelter, medical care, airline fares, household furnishings and operations, apparel, and personal care all contributing to the increase. The index for new vehicles was one of the few to decline in July."

GBP/USD: UK Average Earnings Index

The British Pound traded sideways against the US Dollar, following the UK Average Earnings Index data releases on Tuesday at 8:30 GMT. The GBP/USD exchange currency rate lost 2 pips or 0.01% right after the release. The British Pound continued trading at the 1.2070 level against the Greenback.

The Office for National Statistics released the UK Average Earnings Index data, which came out in line with the expectations of 3.7%.

According to the official release: "Pay for employees (including bonuses) increased by 1.8% on the year when adjusted for inflation; pay excluding bonuses increased by 1.9%."

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Dukascopy Bank Team

Dukascopy Bank SA

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