The Pound Sterling shows uncertainty as it corrects from 1.2700 and awaits US inflation data for March. UK monthly GDP data for February will also provide insights into the economy's performance. Rising cost-of-living crisis in the UK supports potential rate cuts by the Bank of England.
The Pound Sterling turns sideways near 1.2680 after correcting from 1.2700 with eyes on US inflation data for March. The UK monthly GDP data for Februarywill provide fresh cues about the economy’s performance. The UK’s rising cost-of-living crisis supports BoE rate cut prospects. The Pound Sterling exhibits uncertainty in Wednesday’s London session ahead of the United States Consumer Price Index data for March, which will be published at 12:30 GMT.
The speculation was propelled after Governor Andrew Bailey said market expectations for two or three rate cuts this year are “reasonable.” Technical Analysis: Pound Sterling faces pressure near 1.2700 The Pound Sterling struggles to extend upside above the round-level resistance of 1.2700. The GBP/USD pair is expected to remain sideways as investors await the US CPI data. The Cable trades inside Tuesday’s trading range, suggesting a sideways trend. The 200-day Exponential Moving Average near 1.
Pound Sterling US Inflation Data UK Monthly GDP Data Cost-Of-Living Crisis Rate Cuts Bank Of England
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pound Sterling slumps amid uncertainty ahead of UK Inflation, Fed-BoE decisionsThe Pound Sterling (GBP) continues its losing streak for the fourth trading session on Tuesday as investors turn risk-averse in a big central banks’ week.
Read more »
Pound Sterling trades stuck in a tight range ahead of big central-bank weekThe Pound Sterling (GBP) struggles for a decisive move in Monday’s European session as investors stay on the sidelines ahead of the interest rate decisions by the Federal Reserve (Fed) and the Bank of England (BoE), which will be announced on Wednesday and Thursday, respectively.
Read more »
Pound Sterling Holds Rebound Against US Dollar Ahead of US CPI DataThe Pound Sterling remains cautious as it rebounds from seven-month lows against the US Dollar. The GBP/USD pair faces downside risks as the daily RSI remains below 50.00. Market nervousness ahead of Wednesday's US Consumer Price Index (CPI) data weighs on the higher-yielding Pound Sterling.
Read more »
Markets Week Ahead: Gold, US Dollar, Euro, Pound SterlingThis week sees crucial US inflation (CPI) data alongside deliberations from the European Central Bank on monetary policy. FOMC minutes may already be out of date
Read more »
Pound Sterling faces pressure as US Dollar strengthens ahead of Nonfarm Payrolls reportThe Pound Sterling (GBP) retreats to 1.2620 in Friday’s London session after failing to recapture the round-level resistance of 1.2700.
Read more »
Pound Sterling stays on sidelines ahead of Fed Powell's speechThe Pound Sterling (GBP) struggles to extend recovery above 1.2580 in Wednesday’s late London session.
Read more »