O Mitrade Insights dedica-se a fornecer aos investidores informações financeiras ricas, oportunas e valiosas para ajudá-los a entender a situação do mercado e encontrar oportunidades de negociação oportunas.
    2021
    Melhor Provedor de Notícias e Análise
    FxDailyInfo
    2022
    Melhores Recursos Educacionais de Forex Global
    International Business Magazine

    GBP/USD holds steady amid soft US inflation, ahead of Fed and BoE’s decision

    Fonte Fxstreet
    26/01/2024 18:43
    • GBP/USD stable in mid-North American session post US data, with soft inflation boosting rate cut expectations.
    • US PCE Index shows steady headline inflation at 2.6%; core rate drops to 2.9%, hinting at possible May Fed rate cut.
    • Focus shifts to upcoming central bank decisions; Fed likely to hold rates, BoE expected to maintain Bank Rate.

    The GBP/USD was virtually unchanged in the mid-North American session on Friday after data from the United States (US) was released. A softer inflation reading was cheered by investors, who remained confident the Federal Reserve (Fed) would cut rates in May. Despite that, the major remains flat, hovering around 1.2700, set to finish the week with minuscule gains.

    GBP/USD hovers around its opening price following soft US PCE data; traders eye central bank decisions

    The US Personal Consumption Expenditures (PCE) Price Index was revealed by the US Department of Commerce suggesting that inflation continues its downtrend. Headline inflation rose by 2.6%, unchanged compared to November’s and expected figures, while the underlying measures dropped from 3.2% to 2.9%. Although the data could allow a rate cut by the Fed, investors estimate the first one would be in May, according to the Chicago Board of Trade (CBOT). Money market traders expect Fed Chair Jerome Powell and Co. to lower rates to 4% by the year’s end.

    Given the fundamental backdrop, GBP/USD traders eye the next week’s monetary policy decisions by both central banks. The Fed is expected to keep rates unchanged on January 31, though market participants will be eyeing Powell’s press conference.

    Across the pond, the Bank of England (BoE) is foreseen to keep the Bank Rate at 5.25%, although with a unanimous vote, than the previous 6-3 split by February 1. Investors are eyeing the release of economic projections and the BoE’s press conference.

    GBP/USD Price Analysis: Technical outlook

    From a technical standpoint, the GBP/USD remains neutrally biased, thought at the brisk of tilting to the downside, as price action closes into the 50-day moving average (DMA), the first support level at 1.2654. if sellers break below the 1.2700 figure and the latter, further downside is seen. The next demand zone would be the January 5 low of 1.2611 and the 1.2600 figure. On the upside, the pairJanuary first resistance would be the January 24 cycle high at 1.2774, before testing 1.2800.

     

    Isenção de responsabilidade: Apenas para fins informativos. O desempenho passado não é indicativo de resultados futuros.
    placeholder
    EUR/GBP unlikely to rally further in the near term – INGEUR/GBP has bounced back higher from the 0.8500 level. Nevertheless, economists at ING do not expect the pair to extend its rally.
    Fonte  Fxstreet
    EUR/GBP has bounced back higher from the 0.8500 level. Nevertheless, economists at ING do not expect the pair to extend its rally.
    placeholder
    EUR/USD moves sideways around 1.0820 following a volatile session driven by PMI dataEUR/USD consolidates following a volatile session prompted by the release of European and US Purchasing Managers Index (PMI) data on Thursday.
    Fonte  Fxstreet
    EUR/USD consolidates following a volatile session prompted by the release of European and US Purchasing Managers Index (PMI) data on Thursday.
    placeholder
    EUR/USD: Things should not look too bad for the Euro today – CommerzbankEUR/USD races higher ahead of PMI data. Economists at Commerzbank analyze the pair’s outlook.
    Fonte  Fxstreet
    EUR/USD races higher ahead of PMI data. Economists at Commerzbank analyze the pair’s outlook.
    goTop
    quote