Rightmove house price index for September reached the level of -0.6% against -2.4% in August.
Today, at 12:30 (GMT +3) we are waiting for inflation rate. Consumer price index for August is supposed to hit 0.5% level against 0.1% in July (2.5% y/y in contrast to 2.6% y/y in July). Core CPI is expected to make up 2.2% y/y against 2.3% in the previous months. Retail price index is going to hold 3.0% y/y against 3.2% in July.
The Monetary Policy Committee accused the CB of untwisting of inflation and lowering of purchasing power by means of QE3.
We are waiting for the correction towards support on 4H chart at 1.6193. Technical hike towards 1.6286 is also possible.
