{"id":24265,"date":"2022-03-23T13:03:00","date_gmt":"2022-03-23T13:03:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=24265"},"modified":"2022-03-23T21:16:25","modified_gmt":"2022-03-23T21:16:25","slug":"uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/","title":{"rendered":"UK Inflation skyrockets to a 30-year high and leaves BoE with hands tied"},"content":{"rendered":"\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

Midday Update<\/strong><\/p>

Europe opened lower on Wednesday as the UK battles with inflation shocks amid rising energy prices. The UK inflation statistics hit a 6.2% raise, a figure seen in 30-years while the BoE indicates they are more worried about economic growth than inflation in the near term.<\/p>

The Eurozone economy has been affected badly by the Russia\/ Ukraine war and further sanctions on Russia may worsen the situation. President Biden is set to meet NATO and European leaders in Brussels on Thursday to push for more sanctions on Russia.<\/p>

GBPUSD<\/a> slipped -0.45% as investors withdraw from risk assets as UK inflation climbs to a 30-year high. The bullish outlook reversed quickly after failing to break above 1.3300 near-term resistance.<\/p>

The GBPUSD remains suppressed by a stronger dollar after Fed Chair Powell and Daly indicate a more hawkish stance on the interest rate cycle to curb the current inflationary pressure in the US. Bears are currently sitting on 1.3200 support which coincides with a 50-day moving average and a break below that area may cause further downside towards 1.3145.<\/p>

GBPNZD<\/a> traded lower during the European session as the price remain capped below 1.9100 near-term resistance. The outlook is currently bearish as the trend breaches below a psychological barrier at 1.9000. The GBPNZD dropped -0.33% and the next area to watch out for is at 1.8862 which coincides with February 2021 lows. BoE governor Bailey will be speaking today, and traders will be paying attention to any policy clues.<\/p>

EURGBP<\/a> edged higher, +0.14% after bouncing off near-term support at 0.8300. The EURGBP is used as a benchmark pair to gauge the strength between Euro and Pound in the near term and it indicates that the euro was relatively stronger than the Pound early Wednesday.<\/p>

If prices hold above 0.8300 psychological support the EURGBP may experience a rally to the upside in the near term. German Buba president Nagel will be speaking early New York session and traders will be tracking policy clues.<\/p>

European Equities were slightly lower as Russia closes off major a pipeline causing supply jitters ahead of EU leaders\u2019 summit. CAC40<\/a> was down -1.01% from 6700.00 near-term resistance as investors remain neutral. The DAX<\/a> was down -1.09% from 14539.31 resistance as the index remains rangebound. FTSE<\/a> bounced off a near-term resistance at 7500 dropping -0.18%.<\/p>

US equities closed higher on Tuesday as US 10-year treasuries yields<\/a> slid from multi-session highs. Nasdaq<\/a> crossed a critical resistance at 14500.00 soaring +1.94% towards 15200.00, February highs. DJI Index <\/a>gained +0.74% crossing up a 50-day moving average as bulls target 35000.00.<\/p>

On Commodities, USWTI<\/a> rose +2.62% ahead of the NATO, EU summit which raises a spectre of new Russian sanctions. The black liquid crossed above a critical barrier at $110 and a possibility to retest $114.00\/barrel in the near term.<\/p>

Brent futures<\/a> were slightly down -0.15% after hitting $119.48 a barrel. Brent took a breather after rising for 3 consecutive days and a failure to break above $118.32, 10 March high, may see prices trading sideways as EU acknowledges that they cannot replace Russian oil overnight.<\/p>

Gold<\/a> remains steady at +0.42% above 1917, near-term support as Ukraine counters bets on Fed rate hikes. A break below that 7-day support may open room for a target at 1875.00 near-term support.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Midday Update Europe opened lower on Wednesday as the UK battles with inflation shocks amid rising energy prices. The UK inflation statistics hit a 6.2% raise, a figure seen in 30-years while the BoE indicates they are more worried about economic growth than inflation in the near term. The Eurozone economy has been affected badly […]<\/p>\n","protected":false},"author":5,"featured_media":5523,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[105,154,87,101,394,601],"yoast_head":"\nUK Inflation skyrockets to a 30-year high and leaves BoE with hands tied - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK Inflation skyrockets to a 30-year high and leaves BoE with hands tied UK Inflation skyrockets to a 30-year high and leaves BoE with hands tied\" \/>\n<meta property=\"og:description\" content=\"Europe opened lower on Wednesday as the UK battles with inflation shocks amid rising energy prices. The UK inflation statistics hit a 6.2% raise, a figure seen in 30-years while the BoE indicates they are more worried about economic growth than inflation in the near term.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-23T13:03:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-23T21:16:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/03\/GettyImages-686017486.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"553\" \/>\n\t<meta property=\"og:image:height\" content=\"311\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Neville Hornsey\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"UK Inflation skyrockets to a 30-year high and leaves BoE with hands tied UK Inflation skyrockets to a 30-year high and leaves BoE with hands tied\" \/>\n<meta name=\"twitter:description\" content=\"Europe opened lower on Wednesday as the UK battles with inflation shocks amid rising energy prices. The UK inflation statistics hit a 6.2% raise, a figure seen in 30-years while the BoE indicates they are more worried about economic growth than inflation in the near term.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Neville Hornsey\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/\"},\"author\":{\"name\":\"Neville Hornsey\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/95b20558021997bd74f4db43fabddf85\"},\"headline\":\"UK Inflation skyrockets to a 30-year high and leaves BoE with hands tied\",\"datePublished\":\"2022-03-23T13:03:00+00:00\",\"dateModified\":\"2022-03-23T21:16:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/\"},\"wordCount\":531,\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"keywords\":[\"BONDS\",\"DXY\",\"GBP\",\"Inflation\",\"JPY\",\"Stocks\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/\",\"url\":\"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/\",\"name\":\"UK Inflation skyrockets to a 30-year high and leaves BoE with hands tied - Youtrading UK\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/#website\"},\"datePublished\":\"2022-03-23T13:03:00+00:00\",\"dateModified\":\"2022-03-23T21:16:25+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/youtrading.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"UK Inflation skyrockets to a 30-year high and leaves BoE with hands tied\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/youtrading.com\/en\/#website\",\"url\":\"https:\/\/youtrading.com\/en\/\",\"name\":\"Youtrading UK\",\"description\":\"Leaders in Trader Training\",\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/youtrading.com\/en\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/youtrading.com\/en\/#organization\",\"name\":\"YouTrading\",\"url\":\"https:\/\/youtrading.com\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg\",\"contentUrl\":\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg\",\"width\":2531,\"height\":570,\"caption\":\"YouTrading\"},\"image\":{\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/YouTradingEnglish\/\",\"https:\/\/www.instagram.com\/youtrading_english\/\",\"https:\/\/www.youtube.com\/channel\/UCc22BNolZpSd33lXc8utUvg\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/95b20558021997bd74f4db43fabddf85\",\"name\":\"Neville Hornsey\",\"description\":\"Neville Hornsey holds a BA Honours 2.1 in Professional Media and has been a professional trader since 2007. Neville has worked for several brokerages and prop firms, specialising in the Foreign exchange and Futures markets and blends technical analysis with fundamentals, with a bias towards swing and intraday trade setups.\",\"url\":\"https:\/\/youtrading.com\/en\/author\/nevillehornsey\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"UK Inflation skyrockets to a 30-year high and leaves BoE with hands tied - Youtrading UK","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/","og_locale":"en_GB","og_type":"article","og_title":"UK Inflation skyrockets to a 30-year high and leaves BoE with hands tied UK Inflation skyrockets to a 30-year high and leaves BoE with hands tied","og_description":"Europe opened lower on Wednesday as the UK battles with inflation shocks amid rising energy prices. The UK inflation statistics hit a 6.2% raise, a figure seen in 30-years while the BoE indicates they are more worried about economic growth than inflation in the near term.","og_url":"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/","og_site_name":"Youtrading UK","article_publisher":"https:\/\/www.facebook.com\/YouTradingEnglish\/","article_published_time":"2022-03-23T13:03:00+00:00","article_modified_time":"2022-03-23T21:16:25+00:00","og_image":[{"width":553,"height":311,"url":"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/03\/GettyImages-686017486.jpg","type":"image\/jpeg"}],"author":"Neville Hornsey","twitter_card":"summary_large_image","twitter_title":"UK Inflation skyrockets to a 30-year high and leaves BoE with hands tied UK Inflation skyrockets to a 30-year high and leaves BoE with hands tied","twitter_description":"Europe opened lower on Wednesday as the UK battles with inflation shocks amid rising energy prices. The UK inflation statistics hit a 6.2% raise, a figure seen in 30-years while the BoE indicates they are more worried about economic growth than inflation in the near term.","twitter_misc":{"Written by":"Neville Hornsey","Estimated reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/#article","isPartOf":{"@id":"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/"},"author":{"name":"Neville Hornsey","@id":"https:\/\/youtrading.com\/en\/#\/schema\/person\/95b20558021997bd74f4db43fabddf85"},"headline":"UK Inflation skyrockets to a 30-year high and leaves BoE with hands tied","datePublished":"2022-03-23T13:03:00+00:00","dateModified":"2022-03-23T21:16:25+00:00","mainEntityOfPage":{"@id":"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/"},"wordCount":531,"publisher":{"@id":"https:\/\/youtrading.com\/en\/#organization"},"keywords":["BONDS","DXY","GBP","Inflation","JPY","Stocks"],"articleSection":["Markets"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/","url":"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/","name":"UK Inflation skyrockets to a 30-year high and leaves BoE with hands tied - Youtrading UK","isPartOf":{"@id":"https:\/\/youtrading.com\/en\/#website"},"datePublished":"2022-03-23T13:03:00+00:00","dateModified":"2022-03-23T21:16:25+00:00","breadcrumb":{"@id":"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/youtrading.com\/en\/uk-inflation-skyrockets-to-a-30-year-high-and-leaves-boe-with-hands-tied\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/youtrading.com\/en\/"},{"@type":"ListItem","position":2,"name":"UK Inflation skyrockets to a 30-year high and leaves BoE with hands tied"}]},{"@type":"WebSite","@id":"https:\/\/youtrading.com\/en\/#website","url":"https:\/\/youtrading.com\/en\/","name":"Youtrading UK","description":"Leaders in Trader Training","publisher":{"@id":"https:\/\/youtrading.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/youtrading.com\/en\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/youtrading.com\/en\/#organization","name":"YouTrading","url":"https:\/\/youtrading.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg","contentUrl":"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg","width":2531,"height":570,"caption":"YouTrading"},"image":{"@id":"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/YouTradingEnglish\/","https:\/\/www.instagram.com\/youtrading_english\/","https:\/\/www.youtube.com\/channel\/UCc22BNolZpSd33lXc8utUvg"]},{"@type":"Person","@id":"https:\/\/youtrading.com\/en\/#\/schema\/person\/95b20558021997bd74f4db43fabddf85","name":"Neville Hornsey","description":"Neville Hornsey holds a BA Honours 2.1 in Professional Media and has been a professional trader since 2007. Neville has worked for several brokerages and prop firms, specialising in the Foreign exchange and Futures markets and blends technical analysis with fundamentals, with a bias towards swing and intraday trade setups.","url":"https:\/\/youtrading.com\/en\/author\/nevillehornsey\/"}]}},"_links":{"self":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/posts\/24265"}],"collection":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/comments?post=24265"}],"version-history":[{"count":0,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/posts\/24265\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/media\/5523"}],"wp:attachment":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/media?parent=24265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/categories?post=24265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/tags?post=24265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}