GBP/USD appreciates ahead of the UK CPI data release

GBP/USD holds position above 1.3150 ahead of UK CPI, Fed interest rate decision

GBP/USD inches higher to near 1.3160 during the Asian hours on Wednesday. Traders await the release of August Consumer Price Index (CPI) figures from the United Kingdom (UK). Traders will shift their focus on the Federal Reserve (Fed) interest rate decision scheduled later in the North American session.

The UK CPI is anticipated to have increased at an annual rate of 2.2% in August, consistent with the July figure. The core annual CPI is expected to rise to 3.5%, up from the previous 3.3%. Additionally, monthly inflation is projected to grow by 0.3%, following a decline of 0.2% in July. Read more…

GBP/USD pares back ahead of Fed’s midweek rate call

GBP/USD pared back on Thursday, declining back toward 1.3150 as investors buckle down for the wait to Wednesday’s broadly-antiicpated rate cut from the Federal Reserve (Fed), where the US central bank is expected to kick off a rate cutting cycle.

UK CPI inflation figures are due early Wednesday, but the non-preliminary inflation print is unlikely to generate significant momentum with the figures all but fully priced in. Final UK CPI inflation figures for August are expected to print at 0.3% MoM compared to the previous -0.2% contraction, while the annualized CPI print is forecast to come in at 3.5% YoY, up from the previous 3.3%. Read more…