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The FxPro Analyst Team

All Eyes on UK CPI Data as BOE Looms on Thursday

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The G20 meeting continues today in Buenos Aires, where a range of global economic issues including the regulation of cryptocurrencies will be discussed. Headlines may affect any market depending on the context.

At 09:30 GMT, UK Consumer Price Index (YoY) (Feb) is expected out at 2.8% v 3.0% previously. Core Consumer Price Index (YoY) (Feb) is expected at 2.5% from 2.7% prior. Consumer Price Index (MoM) (Feb) is expected at 0.5% from -0.5% prior. Producer Price Index – Output (MoM) n.s.a. (Feb) is expected at 0.1% from 0.1% previously. Producer Price Index – Output (YoY) n.s.a. (Feb) is expected at 2.7% from 2.8% previously. Producer Price Index – Input (MoM) n.s.a. (Feb) is expected at -0.9% from 0.7% previously. Producer Price Index – Input (YoY) n.s.a. (Feb) is expected at 3.8% from 4.7% previously. Retail Price Index (MoM) (Feb) is expected at 0.8% against -0.8% previously. Retail Price Index (YoY) (Feb) is expected to be 3.7% from 4.0% prior. These data points show CPI slipping on a year-on-year basis but the monthly figure is expected to show some growth. The yearly CPI figure has remained above the Bank of England’s 2% target since March of 2017 due to the change in the value of the pound after Brexit. However, the BOE says that inflation is likely to move back to 2% in 2018. GBP crosses may be moved by the data released at this time.

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At 10:00 GMT, German ZEW Survey – Current Situation (Mar) is expected at 90.0 against a prior 92.3. ZEW Survey – Economic Sentiment (Mar) is expected to be 13.0 from 17.8 previously. These data points are expected to soften, as the strengthening in the Euro affects business. The deteriorating trade environment is also a headwind for business outlook. EUR crosses may be affected by this data.

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Tentative, New Zealand GDT Price Index is expected to be released with a previous reading of -0.6%. This data shows the change in the average price of dairy products sold at auction. As this is an important part of the New Zealand economy, NZD crosses may be impacted by the result.

Note: Wednesday is a Bank Holiday in Japan, banks will be closed, and there will be no trading activity due to the Vernal Equinox Day Bank Holiday.