LimitMarkets
Long

Pound supported by a better-than-expected inflation in July

FX_IDC:GBPNZD   British Pound / New Zealand Dollar
The pound posted gains on the positive macro data. Year-on-Year consumer inflation rose by 2.1% more than expected 1.9% and the previous 2.0%. From a month earlier it posted growth of 0% while the analyst expected a slowdown by 0.1%. For the rest of the week, the market will eye on July Retail Sales. On the other side, kiwi suffered from the disappointing Chinese data which derailed investor's risk sentiment. China recorded a drop in July Industrial output data to a more than a 17-year low. The industrial product grew 4.8% in July from a year earlier, while a slowdown to 5.8% was expected. Pair aims for 38.2% Fibonacci retracement of the fall since early-May. 1.9000 in sight.
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