GBP/USD traders sit tight ahead of UK CPI – by fx_ross GBPUSD Currencies BOE CPI
The markets are pricing in a 25bp hike from the BoE at May 11 meeting.
GBP/USD was last trading at 1.2425, flat on the day, and had traveled from a low of 1.2366 to a high of 1.2449 overnight as the markets digest UK data and look to the next set of ammunition in today´s inflation report. in the three months to February. This had been expected to remain steady at 3.7% and instead rose a tick to 3.8%. However, average hourly earnings came in at 5.9% YoY vs. the 5.1% expected and a revised 5.9% previously.
Analysts at Brown Brothers Harriman explained that the WIRP suggests around 90% odds of a 25 bp hike, with another 25 bp hike priced in for August 3. ´´The odds of one last hike in September or November top out near 20%. As a result, the peak policy rate is seen near 4.75% vs. between 4.50-4.75% at the start of last week.´´The headline Consumer Price Index is expected at 9.8% YoY vs. 10.4% in February, while the core is expected at 6.0% YoY vs.
Analysts at TD Securities explained that ´´inflation is proving stickier than the MPC expected in its February projections.´´ The analysts note that ´´both core goods and services prices are proving persistent. March's inflation data is likely to be boosted by rail fares and food.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
GBP/USD bulls move in and eye UK CPI to confirm a hawkish bias at BoEGBP/USD was last trading at 1.2426, up 0.41% on the day, and has traveled from a low of 1.2366 to a high of 1.2449 so far. The market has been dominat
Lire la suite »
GBP/USD justifies pre-data anxiety around 1.2380 ahead of UK employment numbersGBP/USD remains sidelined around 1.2380 amid early Tuesday’s sluggish session, proding a two-day downtrend ahead of the key UK jobs report. Even so, t
Lire la suite »
GBP/USD Price Analysis: Approaches 1.2400 ahead of UK Employment dataThe GBP/USD pair has extended its recovery above the immediate resistance of 1.2380 in the Asian session. The Cable is approaching the round-level res
Lire la suite »
GBP/USD rises back above 1.2400 as USD Index corrects, UK Employment eyedThe GBP/USD pair has witnessed some buying interest after dropping below the round-level support of 1.2400 in the Asian session. The Cable is showing
Lire la suite »
GBP/USD faces a major support at 1.2275 – UOBFurther downside in GBP/USD is likely to face a tough contention around 1.2275 according to Economist Lee Sue Ann and Markets Strategist Quek Ser Lean
Lire la suite »
GBP/USD remains on the defensive around 1.2400 mark amid modest USD strengthThe GBP/USD pair kicks off the new week on a subdued note and seesaws between tepid gains/minor losses through the early part of the European session.
Lire la suite »