This week, two countries will release reports that may reshape expectations for future interest rates. Now may be the right time to diversify your portfolio.
Wednesday, October 21
Inflation in the United Kingdom is expected to accelerate from 3.1% to 3.4% year over year. The upcoming CPI report will show whether price pressures are building again, probably complicating the outlook for interest rates.
•Higher-than-expected inflation could reduce expectations for rate cuts and support the GBP.
•A softer reading could put pressure on the GBP.
The pound has broken out of its local sideways range and is now heading up toward the 1.3395 resistance level.
Thursday, October 22
In New Zealand, quarterly inflation rate is expected to slow down from 1.5% to 0.8%. The upcoming result may hint at the broader inflation trend.
•A higher-than-forecasted value could fuel expectations for tighter monetary policy and support the NZD.
•A lower reading could strengthens expectations for rate cuts and weigh on the country’s currency.
The asset is attempting to reverse its prolonged downtrend and is now testing the 0.5674 resistance.
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