GBP/USD weakens below 1.3400 on easing trade tensions
The GBP/USD pair extends the decline to near 1.3390 during the Asian trading hours on Tuesday. The US Dollar (USD) strengthens against the Pound Sterling (GBP) on easing US-China trade tensions. Traders will closely watch the UK September Consumer Price Index (CPI) inflation data, which is due later on Wednesday.
Market sentiment improved as US-China trade tensions eased after US President Donald Trump on Friday said that his proposed 100% tariff on goods from China would not be sustainable. Nonetheless, Trump blamed Beijing for the latest impasse in trade negotiation that began with Chinese authorities tightening control over rare-earth shipments. Read more…
GBP/USD eases back as CPI inflation data looms
GBP/USD caught a second softly bearish session on Monday, colling back into touch range of the 1.3400 handle. Cable’s near-term bull run came to a quick end after price action ran into the 50-day Exponential Moving Average (EMA) near 1.3450 late last week, and now Pound Sterling (GBP) traders are bracing for a double-header of Consumer Price Index (CPI) inflation data from both the UK and the US this week.
It’s a quiet start to the economic data docket on both sides of the Atlantic, but UK CPI inflation figures for September are slated for Wednesday. UK CPI inflation is expected to accelerate slightly for the year ended in September. However, the increases are not likely to be steep enough to spark any significant changes in the Bank of England’s (BoE) current rate-targeting schedule. Read more…
GBP/USD steadies as Trump tones down China rhetoric, eyes turn to US CPI
GBP/USD remains steady on Monday during the North American, posting a mild decline for the second consecutive session, as the US Dollar (USD) recovers on President Donald Trump’s softening his rhetoric on China. At the time of writing, the pair trades at 1.3425 after hitting a daily high of 1.3442.
The US economic docket remains absent, with traders waiting for the release of the Consumer Price Index (CPI) for September on Friday. Also, Federal Reserve (Fed) officials began its blackout period and with the government shutdown extending to its twentieth day, market players will be keen to US President Donald Trump’s activity on social media. Read more…
