GBP: Disinflation still slow – ING
17.07.2024, 11:11

GBP: Disinflation still slow – ING

The CPI report for June, released this morning, showed things continue to move slowly on the disinflation front in the UK. Headline, core, and services inflation were all unchanged since May, despite expectations for a marginal slowdown, ING’s FX strategist Francesco Pesole notes.

Pound Sterling is trading on the strong side

“We know that services inflation is what the Bank of England (BoE) is mostly focused on at this stage, and the stabilisation at 5.7% YoY in June does not endorse any additional easing bets ahead of the 1st August meeting.”

“The Pound Sterling is understandably trading on the strong side this morning as markets are scaling back some dovish rerating in the Sonia curve. Now there are -9bp priced in for August versus -12bp prior to the release, and the year-end pricing is for 48bp of rate cuts.” 

“Our economists’ long-standing call has been for the BoE’s easing cycle to start in August, but we admit the chances are somewhat lower after this morning’s CPI report. Markets may also gradually price out an August move in the coming weeks, which would make a potential cut a very negative event for the pound. For now, EUR/GBP long-term bulls like us will be happy to see the pair hang on around 0.8400.”

 

© 2000-2024. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik