Forex Flash: UK PPI and CPI wont be market movers – Societe Generale
FXstreet.com (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that the UK releases PPI and CPI data, which won't have a huge FX impact.
He writes, "I still think short GBPUSD is a better trade than short EURUSD at the moment, but there are no obvious drivers today. Nor was there any significant data in Australia where business confidence recovered marginally, but AUDUSD continues to slip lower. This afternoon in the US, we see only small business confidence, with tomorrow's retail sales are bigger market factor."
He writes, "I still think short GBPUSD is a better trade than short EURUSD at the moment, but there are no obvious drivers today. Nor was there any significant data in Australia where business confidence recovered marginally, but AUDUSD continues to slip lower. This afternoon in the US, we see only small business confidence, with tomorrow's retail sales are bigger market factor."
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