comienzo
comercio

Principal >
Datos analíticos de Forex
>
Pronóstico Fresco
>
Forex Fundamental Analysis
>
GBP/USD fluctuates ahead of the release of key UK CPI inflation data

GBP/USD fluctuates ahead of the release of key UK CPI inflation data | 17 Julio 2024

17 Julio 2024, GBP/USD

GBP/USD fluctuates ahead of the release of key UK CPI inflation data

Event to pay attention to today:

09:00 GMT+3. GBP - Consumer Price Index

GBPUSD:

On Tuesday, the GBP/USD exchange rate fluctuated near recent highs as markets reassessed the likelihood of a Federal Reserve (Fed) rate cut. A decline in US retail sales has brought a recent string of US data to a close, indicating that price pressures have finally eased sufficiently for the Fed to move into a rate cut cycle in September.

US retail sales fell to 0.0% in June, in line with expectations and down from the previous month's revised 0.3% reading. The decline in US retail sales provides further encouragement to those markets that are anticipating a rate cut when the Federal Open Market Committee (FOMC) meets on 18 September.

The slowdown in retail sales growth reinforced the outlook for a rate cut in September, as signalled by last week’s Consumer Price Index (CPI) data. CME's FedWatch tool indicates that the probability of at least a quarter-point rate cut in September has reached nearly 100%. This suggests the possibility of up to three rate cuts in 2024.

Pound traders are approaching a series of key UK data releases in the second half of the trading week. The day's economic calendar will commence with the release of the latest UK CPI inflation data. In the near term, UK CPI inflation is forecast to decline to 0.1% m/m in June, down from the previous reading of 0.3%. Meanwhile, annualised CPI inflation is expected to remain at 2.0% y/y.

On Thursday, the UK will release updated employment data as part of its ongoing economic reporting. Analysts anticipate a decline in UK jobless claims in June, with the new reading expected to be 23.4K, down from the previous figure of 50.4K. On Friday, the UK will release retail sales data for June, which is forecast to show a decline of -0.4% from the previous reading of 2.9%.

Trading recommendation: We follow the level of 1.3000, when fixing above it we take Buy positions, when rebounding we take Sell positions.

Up to $20 for each lot in real money - get a guaranteed income by connecting Cashback promotion!

David Johnson
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión

Mostrar contraseña

Ocultar contraseña

 ¿Se te olvidó tu contraseña?
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.

Nuestros mejores premios:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company's services and information on the site are not intended for citizens and residents of some countries, such as Belgium, China, North Korea, France, Hong Kong, Russian Federation, Spain, Great Britain, USA, and also countries identified by the FATF as high-risk countries or countries with serious AML/CFT deficiencies; countries or regions that are under international sanctions. A complete list is available on the "Countries where the company's services are not provided" page. The Company does not have representative offices in the Russian Federation and does not register clients from the Russian Federation.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.