EURGBP. Eurozone’s Inflation Report (16 June 9:00 GMT)

Inflation is the most problematic aspect of Eurozone’s economy at the moment. At the latest press-conference the head of the ECB Mario Draghi stated that it’s quite possible that inflation levels will remain low for the foreseeable future, which means the refinancing rate (which is now zero points) is highly unlikely to be raised.

Now all the attention is on the CPI of Eurozone:

If the inflation levels next week turn out to be disappointing, it will cause the Euro to depreciate.

It is important to take into the consideration the “Retail Sales” report that was published in the beginning of June (has a massive impact on CPI) as the numbers were significantly lower than the expectations:

..but the level of GDP is increasing and that might help the government to solve specific economic issues in the future:

EURGBP chart:

Despite the weak economic data from Eurozone trader consider the “Brexit” and all the possible risks behind it. That is why British Pound is losing positions in the last several days. There is a clear upward rate movement on the price chart and indicator of technical analysis “Awesome Oscillator” proves it.

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