GBP/USD holds near 1.3160 as traders wait for NFP and UK CPI
The Pound Sterling is steady on Tuesday as traders shift worried about the economic outlook in the US and market participants eyeing crucial NVIDIA earnings for Q3, keeping US equity markets in the red. The GBP/USD trades at 1.3156 virtually unchanged.
The US Department of Labor revealed that Initial Jobless Claims for the week ended October 18 were 232K, while continuing claims rose to 1.957 million. GBP/USDs was muted on its release with traders eyeing Nonfarm Payrolls data on Thursday. Read more…
Pound Sterling drops amid caution ahead of UK inflation data
The Pound Sterling (GBP) trades subdued against its major currency peers on Tuesday as investors turn cautious ahead of the United Kingdom (UK) Consumer Price Index (CPI) data for October, which will be released on Wednesday.
Investors will pay close attention to the UK inflation data to get cues about whether the Bank of England (BoE) will resume its monetary-easing campaign in the December policy meeting. Read more…
