GBP/USD: regardless of the robust report on the labor market – Analytics & Forecasts – 15 February 2022


Regardless of the robust report on the labor market, the British pound reacted relatively reservedly to this publication. Most likely, traders are ready for the discharge of the inflation report on Wednesday (07:00 GMT) in an effort to begin correcting their positions on the pound.

The patron value index (CPI) displays the dynamics of retail costs for a gaggle of products and providers included within the client basket, being a key indicator of inflation.

Within the earlier reporting month (December), the expansion in client inflation amounted to +0.5% (+5.4% in annual phrases). The info suggests rising inflationary pressures, which is prone to help the pound. A studying of the indicator beneath the forecast/earlier worth may provoke a weakening of the pound, as low inflation will pressure the Financial institution of England to take care of a straightforward financial coverage. Forecast for January: -0.4% (+5.4% in annual phrases).

Additionally on Wednesday (at 19:00 GMT) the minutes from the January Fed assembly (“FOMC minutes”) shall be revealed. On the finish of the January assembly, Fed leaders confirmed the choice to speed up the discount in asset purchases in an effort to full the QE program in March 2022 and start elevating rates of interest. Fed officers plan to boost rates of interest 3 times in 2022.

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