European session review: the pound traded lower vs the US dollar

The following data was published:

(Time / country / index / period / previous value / forecast)

6:00 Germany Consumer Price Index m / m (final data) August 0.3% 0.0% 0.0%

6:00 Germany CPI, y / y (final data) August 0.4% 0.4% 0.4%

Switzerland 7:15 producers and import price index m / m in August -0.1% -0.3%

Switzerland 7:15 producers and import price index y / y in August -0.8% -0.4%

8:30 UK Producer Price Index (m / m) in August 0.3% 0.2% 0.1%

8:30 UK producers selling prices index, y / y in August 0.3% 0.8% 1%

8:30 UK producers purchase prices index m / m in August 3.1% Revised to 3.3% 0.5% 0.2%

8:30 UK purchasing producer prices index, y / y in August to 4.1% from 4.3 Revised% 8.1% 7.6%

8:30 UK Retail Price Index m / m in August 0.1% 0.4% 0.4%

8:30 UK Retail Price Index y / y in August 1.9% 1.8% 1.8%

8:30 UK Consumer Price Index m / m in August -0.1% 0.4% 0.3%

8:30 UK Consumer Price Index y / y in August 0.6% 0.7% 0.6%

08:30 UK Consumer Price Index, the base value, y / y August 1.3% 1.4% 1.3%

9:00 Eurozone index of sentiment in the business environment from the ZEW Institute in September 4.6 5.4

9:00 Eurozone Employment Change, q / q to 0.4% q II Revised to 0.3% 0.4%

9:00 Germany Sentiment Index in the business environment of the institute ZEW September 0.5 2.5 0.5

The pound fell after data on inflation in the UK pointed to the acceleration of price growth in August, but not as strong as expected by the market.

Inflation has remained stable, while there was a marked rise in producer prices in August, the Office for National Statistics said on Tuesday.

Consumer prices advanced 0.6 percent year on year in August, showing the same growth rate as in July. Prices were expected to rise by 0.7 percent.

Core inflation, which excludes energy, food, alcoholic beverages and tobacco, remained stable at 1.3 percent in August. Economists had forecasted core inflation at +1.4 percent in August.

On a monthly basis, consumer prices rose by 0.3 percent, slightly slower than the growth of 0.4 percent, which economists had expected.

The US dollar rose against other major currencies, as the official comments of the Fed, voiced on Monday, caused fresh uncertainty about the timing of interest rates hike.

The dollar came under pressure after Fed's Lael Brainard warned about the risks of a premature increase in interest rates.

In his speech on Monday, Brainard said that it would be wise not to rush to tight policy.

The euro briefly came under pressure after the economic sentiment in Germany remained stable in September, according to data of the Center for European Economic Research / ZEW.

The index of sentiment in the business environment was 0.5 points in September, remained unchanged from August vs +2.5 forecast.

At the same time, the current conditions index fell by 2.5 points to 55.1 in September. The reading was below the expected level of 56.

"The current uncertainty of economic impuls from Germany and abroad means that the forecasts for the next few months is difficult to do," said the president of the ZEW, Professor Achim Wambach. "German exports, especially in countries that are not EU members, as well as industrial production figures disappointed."

EUR / USD: during the European session, the pair fell to $ 1.1216, and then rose to $ 1.1243

GBP / USD: during the European session, the pair fell to $ 1.3243

USD / JPY: during the European session, the pair rose to Y102.32