Pound Sterling Price News and Forecast: GBP/USD is likely to stay subdued if UK CPI meets expectations

FXStreet Team FXStreet

When is the UK CPI inflation data and how could it affect GBP/USD?

The United Kingdom (UK) Office for National Statistics (ONS) will publish the highly relevant Consumer Price Index (CPI) data for November on Wednesday at 07:00 GMT.

The UK headline Consumer Price Index is forecast to have eased to a 3.5% year-over-year (YoY) in November from the 3.6% seen in October. Meanwhile, Monthly inflation is expected to be flat at 0% after rising 0.4% in October. The UK core CPI, considered more relevant for the central bank, as it strips off the seasonal impact of food and energy prices, is expected to remain consistent at a 3.4% YoY rise in November. Read more...

GBP/USD gains ground above 1.3400 on UK PMI optimism

The GBP/USD pair gains momentum to around 1.3425 during the early Asian session on Wednesday. The Pound Sterling (GBP) edges higher against the Greenback on the upbeat UK preliminary S&P Global Purchasing Managers' Index (PMI) data. Traders will take more cues from the Fedspeak later on Wednesday.

Data released by S&P Global on Tuesday showed that the UK Composite PMI came in at 52.1, versus estimates of 51.4 and the previous reading of 51.2. The Services and the Manufacturing PMI jumped to 52.1 and 51.2, respectively. Both figures came in above the market consensus. The improvement in the UK’s dominant services sector added to the positive tone and provided some support to the GBP against the US Dollar (USD). Read more...

GBP/USD erupts as soft US jobs data crush the Dollar

The GBP/USD surges 0.42% on Tuesday as the latest US jobs report revealed the labor mark weakness, while Retail Sales were unexpectedly unchanged from September figures, an indication of consumers’ resilience. At the time of writing, the GBP/USD trades at 1.3432 after reaching a daily low of 1.3355.

US Nonfarm Payrolls in November came at 64K, but better than the 50K expected, an improvement compared to October’s -105K print. The data pushed the Unemployment Rate from 4.4% to 4.6%, above estimates of 4.5% by Federal Reserve officials, which updated their forecasts at the Summary of Economic Projections (SEP). Read more...

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FXStreet Team

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