- Analytics
- News and Tools
- Market News
- GBP/USD: Short-term headwinds for the Pound to cap any gains after US CPI – Scotiabank
GBP/USD: Short-term headwinds for the Pound to cap any gains after US CPI – Scotiabank
GBP/USD consolidates below 1.22. The Pound may struggle to benefit from Dollar weakness after US inflation data, according to economists at Scotiabank.
More strike action announced
“More strike action was announced today, adding to ongoing industrial action in the health and transport sectors. Meanwhile, easing energy prices have pushed peak BoE pricing to 4.41%, down from a recent high above 4.75%. These factors may slow GBP gains versus the softer USD in the event of more Dollar weakness after US inflation data.”
“Spot looks well-supported near 1.21 on the short-term charts but momentum is weak and we think Cable will need to trade either above 1.2210 or below 1.21 to establish a stronger sense of short-term direction.”
“Longer-term price signals tilt risks towards a topside move.”
See – US CPI Preview: Forecasts from 10 major banks, price pressures to ease further
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
