EUR/USD 1.13587
-0.267%
Gold 3304.73
-1.311%
Oil 62.946
0.567%
USD/JPY 143.646
0.705%
GBP/USD 1.33184
-0.168%
GBP/JPY 191.311
0.579%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 26, UBS said that the current market thinking is consistent with the banks basic forecast, that is, tariffs will be reduced from the current announced level for the rest of the year, and the Federal Reserve will further cut interest rates this year. However, as uncertainty in trade, economy and Federal Reserve policy remains high, expected volatility also remains high. However, UBS believes that the US stock market is attractive, and the S&P 500 index target continues to be 5,800 points by the end of the year. UBSs current basic forecast is that the Federal Reserve will cut interest rates by 75 to 100 basis points this year, but in the short term, the Feds policy flexibility seems more limited because it must balance concerns about economic growth with the risk of inflation recovery.According to AFP: Senior officials said that Ukrainian President Zelensky and US President Trump may meet in Rome.Spokesman for Ukrainian President Volodymyr Zelensky: Ukrainian President Volodymyr Zelensky has arrived in Rome to attend the Popes funeral.According to the Ukrainian National News Agency: Russian troops launched 414 attacks in the Zaporizhia region at night.Market news: Ukrainian President Zelensky and his wife arrived in Rome.

GBP/USD aims to retake 1.2300 amid an upbeat market sentiment, with US/UK Inflation in the spotlight

Daniel Rogers

Dec 13, 2022 15:11

 GBP:USD.png

 

After dipping as low as 1.2260 during the Tokyo session, GBP/USD demand has increased. The Cable is attempting to reclaim the round-level resistance of 1.2300 as investors' risk appetite has risen significantly ahead of the release of U.S. inflation data.

 

The US Dollar index (DXY) has fallen below the round-level support of 105.00 as investors' pre-US inflation jitters have dissipated. S&P500 futures are maintaining their gains from Monday due to expectations of a drop in inflationary pressures. The anticipated change in the Federal Reserve's (Fed) interest rate policy has reinforced optimism on a broader scale.

 

The street anticipates a reduction in the US Consumer Price Index (CPI), driven by a decline in gasoline costs and consumer-inflation estimates for one year. The Federal Reserve Bank of New York's monthly Survey of Consumer Forecasts reported on Monday that US consumers' one-year inflation expectations decreased to 5.2% in November from 5.9% in October, the greatest one-month reduction on record. Inflation expectations have consequently decreased to 7.3% for headline inflation and to 6.0% for core inflation.

 

On the British Pound front, investors anticipate the release of the United Kingdom Employment and CPI numbers on Tuesday and Wednesday, respectively. The quarterly Unemployment Rate (October) is anticipated to be 3.7%, up from the previously reported 3.6%. Aside from this, the statistics on Average Earnings is the most relevant aspect. Quarterly Average Earnings without Bonuses were anticipated to increase by 5.9% compared to the preceding announcement of 5.7%.

 

While it is anticipated that the headline rate of inflation in the United Kingdom would decline to 10.9% from 11.1%, as previously reported. As a result of the food supply issue, labor shortages, and growing input costs, food price inflation has soared. Investors should not overlook the possibility of an unforeseen inflation spike.

Suggestion