GBP/USD slides towards 1.2000 as Cable traders await Fed/BoE talks, UK GDP – by anilpanchal7 GBPUSD BOE Fed Employment PMI
pair justifies downbeat catalysts surrounding the UK and the Bank of England while also taking clues from the recently hawkish bias for the Federal Reserve ahead of Chairman Jerome Powell’s speech. announced a 0.50% interest rate hike by matching the market expectations. Following the interest rate announcements, BoE Governor Andrew Bailey said, “BoE's forecast suggests inflation will come down, fall quite sharply.” might have peaked, says"we have changed the language we used.
On a different scenario, BoE Chief Economist Huw Pill told Times Radio on Friday that it's important for the BoE to not do"too much" on monetary policy, per Reuters. Not only the downbeat comments from BoE officials but the weakest performance of the UK Services PMI in two years, to 48.7 versus 49.9 prior, also weighs on the GBP/USD prices. Additionally, the UK’s healthcare strikes add strength to the pessimism surrounding the British economy.
Moving on, a light calendar in the UK may allow the GBP/USD bears to keep the reins. However, Tuesday’s speech from Federal Reserve Chairman Jerome Powel and Friday’s UK data dump, including the fourth quarter Gross Domestic Product will be crucial for the pair traders to watch for clear directions. Additionally important are comments from various BoE officials scheduled for publishing during the week.A clear downside break of a four-month-old ascending trend line, around 1.
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