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UK CPI RECORDS 14 YEAR LOW: PLUNGES STERLING

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UK CPI on STOCK.com

UK CPI RECORDS 14 YEAR LOW: PLUNGES STERLING

Jan 13 2015, 11.15am GMT

STOCK.com

GBPUSD touches the $1.5000 mark due to disappointing UK data.

The first figure out showed The British Retail Consortium (BRC) Retail Sales Monitor year-on-year figure as negative in terms of growth for the country: actual at -0.4% versus 0.6% forecast and 0.9% previous.

Next was the UK CPI at 0.5%, less than expectations of 0.7%, and at a figure last seen in May 2000, according to The Office for National Statistics.

UK CPI on  STOCK.com

Data: © Crown Copyright

As growth slows in one of the strongest Eurozone countries, the currency sees falls to levels last in June 2013, falling 1.8% from Monday’s close to 1.5076.

MT4 chart: GBPUSD

GBPUSD on stock.com

Meanwhile the UK100 [FTSE100] is appealing to investors and has risen 1.2% from close of trade on Monday to 6486.75.

MT4 chart: UK100

UK100 on stock.com

On CPI figures last seen before the crisis and recession, the UK saw no reprieve on either the House Price Index (YoY) at 10.0%, versus expectations of 11.1% and previous of 10.4%, or the Producer Price Index (PPI) Input that measures the change in the price of goods and raw materials purchased by manufacturers. The PPI is a leading indicator of consumer price inflation and saw December figures descending to -2.4%, as opposed to forecasts of -0.3% and previous of -0.7%.

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