Dashboard

Solid News

In Anticipation of British Statistics on Inflation

11/16/2022 12:07 PM

The GBP/USD pair shows an upward correction, trading around 1.1858, supported by macroeconomic data from the labor market.

According to the report for September, the UK unemployment rate increased to 3.6% from 3.5% earlier, resulting in a loss of 52.0K jobs, more than the forecasted decrease of 25.0K, which, however, was offset by the dynamics of the average level of wages, which, excluding bonuses, rose by 5.7%, which is better than the positive dynamics of 5.5% a month earlier, and taking into account bonuses – by 6.0%, higher than the preliminary estimates of experts at 5.9%. Inflation statistics will be released today, and analysts expect the consumer price index to reach 10.7% from 10.1% last month, continuing global growth.

The US dollar declines, trading at 106.500 in the USD Index on the back of the producer price index, which rose 0.2% in October instead of an estimated 0.4% gain. Retail sales data are expected to be published today, and given the positive forecasts, which suggest a possible increase in the indicator by 1.0% instead of last month's zero change, the dollar may receive local support.


The trading instrument moves within the local ascending channel on the daily chart, approaching the resistance line.

Technical indicators reinforce the buy signal: the range of fluctuations of the EMA on the Alligator indicator expands and is directed upwards, and the histogram of the AO oscillator forms upward bars in the buy zone.

Resistance levels: 1.1990, 1.2250. | Support levels: 1.1730, 1.1360.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Physical address: Oasis Moroni,RN1 bureau No 03 Rez-de-chaussée, Comoros Union
Mail Us
[email protected]
Call Us
+269 320 20 60


Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using solidecn.com you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2025 SolidECN.com