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Forex Market Update – Video Analysis

Market Analysis

Technical Analysis –  UK May inflation data came in hotter than expected, with the headline CPI figure rising to 2.9% y/y, the highest rate since June 2013. Despite perky consumer prices, which were driven by price rises in a broad range of component categories, PPI input prices ebbed to 11.6% y/y from 15.6% . The pound saw some chop in the wake of the release, but the net impact has been limited. Meanwhile, German ZEW investor confidence unexpectedly declined to 18.6 from 20.6 in the previous month.

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Stuart Cowell

Senior Market Analyst

HotForex

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