| Rightmove HPI m/m |
2.1% |
1.7% |
|
| CPI y/y |
2.8% |
2.8% |
2.8% |
| PPI Input m/m |
-0.1% |
-0.3% |
2.8% |
| RPI y/y |
3.3% |
3.3% |
3.2% |
| Core CPI y/y |
2.4% |
2.3% |
2.3% |
| HPI y/y |
1.9% |
2.8% |
2.2% |
| PPI Output m/m |
0.3% |
0.3% |
0.8% |
| Claimant Count Change |
-7.0K |
0.0K |
-5.3K |
| MPC Meeting Minutes |
0-0-9 |
0-0-9 |
0-0-9 |
| Unemployment Rate |
7.9% |
7.8% |
7.8% |
| Average Earnings Index 3m/y |
0.8% |
1.4% |
1.2% |
| Retail Sales m/m |
-0.7% |
-0.7% |
2.1% |
| 30-y Bond Auction |
3.12|1.7 |
2.95|1.5 |
The economic data published last week for United Kingdom were relatively low. The PPI came -0.1%, considerably low comparing to last month, and the CPI remained unchanged. The unemployment rate got to 7.9% and the Average earnings rose only 0.8%. Bad news did not stop coming for UK. Friday Fitch cut the countries rating from AAA to AA+ with a stable outlook. Fitch was the second company that has cut the rating in the last 2 months.
Next week the Public Sector Net Borrowing is expected to rise at 13.9B and the prelim GDP to hit 0.1%.
The technical overview is not that good for GBPUSD. After a 0.70% fall last week the Great Britain pound might fall another 1 – 1.25% next week, especially if the GDP will not hit market expectations. It seems that this up move was only meant to retest 38.2 Fibonacci retrace.
Wrap Up 15-19 April GBPUSD Down 0.70% by Razvan Mihai
