๐Ÿš€ Traders, buckle up for the BRIGHTEST news of the week! ๐Ÿš€ - #ForexKini - Informasi Forex Terkini - #Forex #ForexMalaysia #ForexBrokers

๐Ÿš€ Traders, buckle up for the BRIGHTEST news of the week! ๐Ÿš€

๐Ÿš€ Traders, buckle up for the BRIGHTEST news of the week! ๐Ÿš€

๐Ÿ“† Set your alarms! The event you can't afford to miss this week is the release of UK inflation data, scheduled for Wednesday, July 19, 2023, at 09:00 (terminal time, GMT+3).

๐Ÿ” Why does it matter? This data will play a crucial role in determining the scale of the Bank of England's next interest rate hike.

๐Ÿ“Š What are the forecasts? Economists project inflation to decrease from 8.7% to 8.2% year-on-year in June. Meanwhile, core inflation (excluding food and energy prices) is projected to hold at a record high of 7.1% year-over-year.

๐Ÿ’ท Which trading instruments could it affect? This event could significantly influence all GBP currency pairs and the British index, such as GBP/USD, GBP/CAD, GBP/JPY, GBP/AUD, GBP/NZD, EUR/GBP, GBP/CHF, and UK100.

๐Ÿงฎ How should you interpret the data? If the consumer price index for services doesn't demonstrate a slowdown, expect the Bank of England to opt for an aggressive 0.5% rate hike. This could potentially give the British currency an edge over the dollar and the euro. But if services inflation shows a decrease, the Bank of England might limit the hike to 0.25%, causing negligible changes in the pound exchange rate.

๐Ÿ’ก Always remember, major economic news causes heightened volatility, creating profit opportunities for traders. Yet, it's crucial to trade wisely during these events. Post-news trading is generally less risky and more prudent than trading during the turbulence of the release. Evaluating all economic reports for a country in a comprehensive manner, rather than in isolation, gives a more in-depth insight.

๐Ÿ‘‰ Stay alert, trade smart, and keep track of the latest updates with JustMarkets! ๐Ÿ“ˆ


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