12 January 2023, GBP/USD
GBPUSD trading plan:
Investors will be glued to their screens Thursday morning waiting for the latest consumer price index reading from the Labor Department, which is due at 8:30 a.m. in Washington. This next set of figures is even more crucial, since it will be a key determinant to whether Fed officials raise interest rates by a half percentage point for the second straight meeting or downshift to a quarter point. Longer-dated treasury yields fell as investors bet inflation is on a sustainable downward path that could lead the Fed to slow rate hikes or cut rates. December's CPI is expected to show annual inflation at 6.5%, down from 7.1% in November. The data will be crucial for investors placing bets on the Fed's next steps.
Investment idea: buy 1.2127 and take profit 1.2200.
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