Yes folks, your UK data risk at 09.30 GMTCarney not far behind from 10.00 GMT at the ECB forum and large-ish option expiries at 1.3150 will be in play on the data release too. BOE have repeatedly said they expect CPI to peak around 3-3.2% anytime now. So even a better than expected number here today should not be too much of rate-hike positive.
But hey we can, as always, expect the initial algo-led reaction however the data plays out so be ready with your entry/exit levels from whichever side you want to play.
Placing limit orders in advance can often be useful given the occasional speed of moves and subsequent reversals, although equally it can be prudent to wait and manually trigger executions once you’ve sized up the data in its entirety and gauged the price action.
I’m not going to beat the algos so have your data calendars open.