GBP/USD jumps to 1.2075 as UK CPI rises 2.1% y/y in July vs. +1.9% expected


  • UK CPI rises 2.1% y/y in July vs. 1.9% expected.
  • UK CPI arrives at 0.0% m/m in July vs. -0.1% expected.

The UK Consumer Prices Index (CPI) 12-month rate came in at 2.1% in July, when compared to 2.0% booked in June while bettering expectations of a 1.9% print, the UK Office for National Statistics (ONS) reported on Wednesday. 

Meanwhile, the core inflation gauge (excluding volatile food and energy items) arrived at 1.9% y/y last month versus 1.8% booked in June while matching the consensus forecast of 1.8%.

The monthly figures showed that the UK consumer prices arrived at 0.0% in July, beating -0.1% expectations and 0.0% last.

Main Points (via ONS):

“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.”

On an upside surprise in the UK CPI numbers, the GBP/USD pair jumped to daily highs of 1.2073 in a knee-jerk reaction before reversing quickly to near 1.2065 region.

GBP/USD Technical levels to watch

GBP/USD

Overview
Today last price 1.2065
Today Daily Change -0.0001
Today Daily Change % -0.01
Today daily open 1.2061
 
Trends
Daily SMA20 1.2265
Daily SMA50 1.2477
Daily SMA100 1.2704
Daily SMA200 1.2812
Levels
Previous Daily High 1.2098
Previous Daily Low 1.2042
Previous Weekly High 1.221
Previous Weekly Low 1.2023
Previous Monthly High 1.2706
Previous Monthly Low 1.2119
Daily Fibonacci 38.2% 1.2063
Daily Fibonacci 61.8% 1.2076
Daily Pivot Point S1 1.2036
Daily Pivot Point S2 1.201
Daily Pivot Point S3 1.1979
Daily Pivot Point R1 1.2092
Daily Pivot Point R2 1.2123
Daily Pivot Point R3 1.2149

 

 

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