GBP/USD: pound grows ahead of BOE meeting in November

The focus of traders today will be the publication (at 12:30 GMT) of a block of inflation indicators for the US for September. In general, the growth of indicators is expected. Nevertheless, according to many economists, only stronger than expected data can support the dollar. Moreover, for the stable growth of the dollar, it will take inflation to show good results within a few months.

Among the indicators published today in the US:

1) The Consumer Price Index (CPI), which is a key indicator for assessing inflation. The forecast: + 0.6% (against + 0.4%, according to the previous report),

2) The level of retail sales. This is the main indicator of consumer spending. The report is leading, and further data can be heavily revised. The forecast: +1,7% (against -0,2%, according to the previous report).

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