Pound Sterling Price News and Forecast: GBP/USD consolidates as ADP jobs disappoint
|When are the UK Retail Sales and how could they affect GBP/USD?
The UK Retail Sales, scheduled to be published later this session at 0600 GMT, are expected to have registered a growth of 0.2% in July, compared to a 0.9% increase seen in the previous month. On an annualized basis, Retail Sales are seen rising 1.3% during the reported month, down from 1.7% booked in June.
Meanwhile, core Retail Sales, stripping the basket of motor fuel sales, are anticipated to have climbed by 0.4% MoM and by 1.2% over the year, lower than 0.6% and 1.8%, respectively. Read more...
GBP/USD settles into holding pattern ahead of key US NFP jobs data
GBP/USD slowed to a crawl on Thursday, remaining stuck close to 1.3430 after a volatile showing through the week’s earlier sessions. US Nonfarm Payrolls (NFP) are always a high-impact affair, but this Friday’s US jobs showdown has taken on an even greater importance than usual.
Markets are clamoring for an interest rate cut from the Federal Reserve (Fed) this month, and tunnel-vision traders are cheering on a deepening slump in US employment data. Despite a near-term uptick in inflation data effectively wiping out the year’s progress on taming inflation, investors are hoping that a souring US labor market will force the Fed to disregard inflation pressures and deliver interest rate cuts before the end of the third quarter to prop up the domestic economy’s job creation. Read more...
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