The UK inflation growth is minimal since 1960


The UK inflation growth is minimal since 1960

Greeks rejected the European authorities’ proposals to continue cooperation as they previously agreed and asked only about the current assistance program technical six-month extension that was not supported by lenders. This news caused the euro decrease against the dollar and other competitors. The February economic expectations index in the EU’s largest economy is expected with an increase to 55.8 from 48.4 in January and the current conditions index with growth to 30.0 against the previous 22.4.

The pair dropped to the level of 1.1340 and rebounded upwards. Rebounds are limited by the resistance near 1.1440. The pair tested it.

The support levels are 1.1320-1.1340, and the resistance levels are 1.1440-1.1460.

MACD is in a neutral territory.

Trading recommendations

It is possible the support around 1.1320-1.1340 retesting in the short term. The latter level breakthrough will open the way towards 1.1200-1.1220. The euro needs to overcome the resistance near 1.1440-1.1460 for the further correction development.


The UK inflation growth is minimal since 1960

Messages about the absence of the Greece and the Euro group negotiations results have pressed the pair pound/dollar and the “cable” showed some losses. The Consumer Price Index (CPI) is expected with a decrease by 0.9% m/m and to 0.3% y/y after 0.0% m/m, 0.5% y/y in December, the retail price index (RPI) can also show a negative dynamics – 0.5% m/m and 1.4% y/y against the previous + 0.2% m/m, + 1.6% y/y. The pair GBP/USD was unable to continue the upward correction. Once being under pressure, the pair dropped to the level of 1.5330-1.5350. The pair is consolidating at this level.

The support levels: 1.5330-1.5350 and the resistance levels: 1.5415-1.5435.

The MACD indicator is in a positive territory.

Trading recommendations

If the pound is not able to return and consolidate above 1.5415-1.5435, it may decrease towards the 53rd figure. Decrease below 1.5330-1.5350 will allow bears to test the support near 1.5260-1.15280.


The UK inflation growth is minimal since 1960

European events related to the Greece issues have influenced the pair dollar/yen less than others. Nevertheless, the absence of messages about the conflict resolution pushed investors to escape from the risk into the yen shelter that caused the US dollar decline. Nevertheless the dollar increased at the end of the day.The January export data is expected with a decrease to 11.9% against the previous 12, 9 %. The Bank of Japan monthly report will be soon presented. The trade balance indicators can also come out below the December results.

The pair dollar/yen made sluggish fluctuations within a narrow range between the resistance near 119.25-119.45 and the support near 117.95-118.15. Yesterday the pair sharply grew to the resistance level of 119.25-119.45 and tested it.

The support levels: 117.95-118.15, and the resistance levels: 119.25-119.45.

The MACD indicator is in a neutral territory.

Trading recommendations

While the dollar is trading above 117.95-118.15, the chances of renewed growth are preserved. The support loss will lead to its decline towards 116.95-117.15.
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