Market Brief January 16th: U.K. Consumer Price Index Due
EUR 07:00 a.m. GMT, German CPI (MoM) (Dec)- Germany is the major driving economy in the EU and the largest one. The index measures the change in the price of goods and services for the month of December. Projections point to no changes expected at 0.6% expected for December same as the reading in November. If the actual result shows and increase, this should be seen as a bullish sign for the euro and vice versa- a much lower performance could drive the value down.
GBP, 09:30 a.m. GMT, CPI (MoM) (Dec) – an important measure of inflation and purchasing trends, Consumer Price Index shows the change in the price of goods and services from a consumer point of view. Analyst expectations point to an imporevement at 0.4% for Decemeber compared to 0.3% for the previous month. If the news beats expectations with a considerable increase in CPI, this should be read as a bullish sign for the cable while a mouch weaker perfomance could bring the sterling down.
Ethereum – the currency was consolidating on Monday after it reached a freash peak around the $1,374 level. We’d have to wait patiently and see how far price could go on its bullish journey and whether this is a stable move or not.
Bitcoin – we’ll have to wait and see whether the pioneer in cryptocurrencies will repeat the massive success of 2017. When it comes to all markets, there are a lot of factors to consider. Two, however, stand out- an asset could theoretically increase to infinity or drop to zero. That shows you as a trader both the potenital upside and down side to a market, virtual currencies included.
Wishing you Happy and Successful Trading!
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