Investing.com UK on Nostr: Pound to Dollar End-of-Week Forecast: GBP Retreats vs USD as American PPI Eases ...
Pound to Dollar End-of-Week Forecast: GBP Retreats vs USD as American PPI Eases
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The Pound (GBP) retreated against the US Dollar (USD) as American PPI eased. The US PPI report fell by 0.2% in May, missing forecasts of a 0.1% increase. The data indicates that price pressures in the US are gradually easing. An unexpected rise in US initial jobless claims further stymied the USD's upside potential. The number of newly unemployed Americans jumped by 13,000 to reach a total of 242,000 in the week ending 8 June. The GBP was buoyed by deferred Bank of England (BoE) interest rate cut bets. Economists and investors expect the BoE to wait until September to enact its first interest rate cut. The latest US trade data is due for release on Friday, with exports expected to have flatlined in May and imports expected to have slowed significantly. The GBP may be left vulnerable to global market dynamics.
#Pound #Dollar #Gbp #Usd #AmericanPpi #BankOfEngland #InterestRateCut #UsTradeData
https://uk.investing.com/news/forex-news/pound-to-dollar-endofweek-forecast-gbp-retreats-vs-usd-as-american-ppi-eases-3548309
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The Pound (GBP) retreated against the US Dollar (USD) as American PPI eased. The US PPI report fell by 0.2% in May, missing forecasts of a 0.1% increase. The data indicates that price pressures in the US are gradually easing. An unexpected rise in US initial jobless claims further stymied the USD's upside potential. The number of newly unemployed Americans jumped by 13,000 to reach a total of 242,000 in the week ending 8 June. The GBP was buoyed by deferred Bank of England (BoE) interest rate cut bets. Economists and investors expect the BoE to wait until September to enact its first interest rate cut. The latest US trade data is due for release on Friday, with exports expected to have flatlined in May and imports expected to have slowed significantly. The GBP may be left vulnerable to global market dynamics.
#Pound #Dollar #Gbp #Usd #AmericanPpi #BankOfEngland #InterestRateCut #UsTradeData
https://uk.investing.com/news/forex-news/pound-to-dollar-endofweek-forecast-gbp-retreats-vs-usd-as-american-ppi-eases-3548309