After weeks of losses, GBP is attempting to rebound as Fed rate hike expectations scale back ahead of the key US inflation and UK GDP data. What is the trend in GBP/USD, EUR/GBP and GBP/AUD?
We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.Wall Street IG Client Sentiment: Our data shows traders are now net-short Wall Street for the first time since Sep 21, 2023 when Wall Street traded near 34,068.90.What is the outlook and key levels to watch in select GBP crosses?
Curious to learn how market positioning can affect asset prices? Our sentiment guide holds the insights—download it now! It’s free!Markets are now pricing in around a 10% chance of a 25 basis points hike by the Fed when it meets next month, down from around a 28% chance a week ago following dovish remarks from key Fed officials.
The greenback’s failure to attract meaningful safe-haven bids despite the escalation in geopolitical tensions possibly indicates that interest rates/monetary policy is a significant driver. In this regard, the key focus is on US CPI data due Thursday: headline inflation eased to 3.6% on-year last month from 3.7% in August, while core inflation eased to 4.1% on-year from 4.3% previously.
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