April’s CPI print for last year kicked off a period of hotter CPI. With markets now pricing in a 50% chance of a June cut, will the all-important April print move the odds?
Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.13% FTSE 100...data is expected to drop for both headline and core measures but the consensus estimate for the headline measure anticipates a massive drop from 3.2% to 2.1%. Such a lofty expectation could see the figure land up disappointing the market but a small miss to the upside would still represent phenomenal progress.
The upper wicks and small candle bodies could be symptomatic of waning bullish momentum with the potential to move lower, given the right catalyst. Should prices find a ceiling at 1.2736, a move to the downside remains constructive upon a better-than-expected CPI print. Thehas enjoyed a period of gains against the dollar since the lower US CPI print for April. Consider the short bias invalidated at 1.2800, with support at 1.2585.
We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions. This information is made available for informational purposes only. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD Targets 1.28 Ahead of Key UK Inflation Data - Here's How to Trade ItForex Analysis by Investing.com (Damian Nowiszewski) covering: GBP/USD. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Read more »
GBP/USD consolidates its gains above 1.2580, all eyes on US CPI dataThe GBP/USD pair consolidates its gains around 1.2590 during the early Asian session on Wednesday.
Read more »
US Dollar Gains Ahead of US CPI Data; Setups on EUR/USD, USD/JPY, GBP/USDThis article explores the technical outlook for EUR/USD, USD/JPY, and GBP/USD, scrutinizing price action dynamics and sentiment to forecast potential near-term market movements.
Read more »
US Dollar’s Path Tied to Inflation Outlook; Setups on EUR/USD, USD/JPY, GBP/USDAfter poor performance earlier in the month, the U.S. dollar rebounded this week, supported by a moderate rise in bond yields. We could see a continuation of the greenback's upward movement if the upcoming US inflation report tops consensus estimates.
Read more »
GBP/USD Forecast: Pound Sterling rally to be tested by April inflation dataThe British Pound (GBP) exhibited a bullish trend throughout the week and managed to advance to fresh five-week peaks around 1.2700 against the US Dollar (USD).
Read more »
GBP/USD rebounds from YTD trough, steadily climbs back closer to 1.2400 markThe GBP/USD pair stages a modest recovery from the 1.2365-1.2360 area, or its lowest level since November 14 touched during the Asian session on Monday and for now, seems to have snapped a two-day losing streak.
Read more »