20 Mei 2024, GBP/USD
GBPUSD:
The Pound-Dollar pair continues to rise for the second consecutive session, trading near 1.2710 during Asian hours on Monday. The weakening US dollar (USD) is providing support to the GBP/USD pair. April data showed that US consumer inflation slowed to 0.3%, raising expectations of a potential Federal Reserve (Fed) rate cut in 2024. However, the US Fed remains cautious on inflation and the possibility of a rate cut in 2024.
According to the CME FedWatch Tool, the probability that the U.S. Federal Reserve will cut rates by 25 basis points in September increased slightly to 49.0% from 48.6% a week ago. This potential easing of monetary policy by the central bank could undermine the US Dollar and strengthen GBP/USD.
On Friday, Federal Reserve Board of Governors member Michelle Bowman hit the headlines by noting that inflation progress may not be as robust as many had hoped. Bowman pointed out that the decline in inflation seen in the second half of last year was temporary and that there has been no further progress on inflation this year. Moreover, FRB Richmond President Thomas Barkin noted that inflation is easing, but emphasized that it will “take longer” to reach the Fed's 2% target.
Trading recommendation: Watch the level of 1.2700, trading predominantly on Buy.
FreshForex offers a wonderful 300% bonus on every deposit of $100 or more, giving you the opportunity to increase your trading volumes!
en 
cn 
ar 
ru 
vn 
es 
pt 
th 
kz 
ua 
tj 
uz 
az 
ms 