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News This Week June 19th - June 23rd

Updated: Jun 21, 2023

Wednesday 21st June

GBP CPI y/y - 7.00am

Forecast: 8.4%



GBP CPI May

Wednesday 24th May

Forecast: 8.2%

Actual: 8.7%


GBPJPY

Price pushed up bullish at the news and the move was retraced at London open





Key Points

  • Food and non-alcoholic beverage prices continued to rise in April and contributed to high annual inflation

  • Core CPI rose by 6.8% - highest rate since March 1992

  • All CPI readings were higher than expected



Scenarios

Actual/Better than forecast - higher numbers = GJ Buys

Worse then forecast - lower numbers = GJ Sells


 

Thursday 22nd June

GBP Official Bank Rates - 12.00pm

Forecast: 4.75% (0.25% increase)


GBP Interest Rates chart May

Thursday 11th May

Forecast: 4.50%

Actual:4.50%



GBPJPY

GJ spiked up bullish but the candle closed weak bullish(doji) and the trend continued down



Key Points

  • Inflation rate is still too high (10%) - target is 2%

  • Rates were risen to make sure inflation falls and stays low'

  • Expecting inflation rate to hit 2% by end of 2024



Scenarios

Actual/Better than forecast - higher numbers = GJ Buys

Worse then forecast - lower numbers = GJ Sells


 


Friday 23rd June

GBP Flash Manufacturing/Services PMI

Forecast: 46.8/54.9



GBP Flash Manufacturing/Services PMI May chart

Tuesday 23rd May

Forecast:47.9/55.5

Actual:46.9/55.1


GBPJPY

The news candle dropped bearish at the release and then reversed to close bullish



Key Points

  • Another increase in private sector output but the speed of expansion slowed since April

  • Services posted another decline for the 3rd month running

  • Private sector employment rose for the 2nd month running



Scenarios

Actual/Better than forecast - higher numbers = GJ buys

Worse then forecast - lower numbers = GJ sells

 

USD Flash Manufacturing/Services PMI

Forecast:48.5/54.0



USD Flash Manufacturing/Services PMI May chart

Tuesday 23rd May

Forecast:50.0/52.6

Actual: 48.5/55.1


XAUUSD

Gold whipsaw and indecision candle due to mixed data






Key Points

  • Growth in output fastest for just over a year, expansion led by service providers

  • New orders rose at the fastest rate since April 2022

  • Services employment rose at quicker pace



Scenarios

Actual/Better than forecast - higher numbers = Gold Sells

Worse then forecast - lower numbers = Gold Buys

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