4:30am (NY Time) UK CPI y/y Forecast 1.8% Previous 1.5%
ACTION: GBP/USD BUY 2.1% SELL 1.5%
“CPI, Consumer Price Index, is a statistical estimate of the movement of the prices of goods and services bought for consumption purposes by households. Its computation uses price data collected for a sample of goods and services from a sample of sales outlets in a sample of locations for a sample of times and estimates of the shares of the different expenditures in the total covered by the index which are usually based upon expenditure data obtained for sampled periods from a sample of households wikipedia).” It is also known as the “True Cost of Living”.
UPDATE: CPI came out just 0.1% better than expected. With the market getting significantly thinner in liquidity, I decided to stay out of the market for this trade.