Keep an eye on US inflation data
The United States will publish CPI and core CPI on September 11, at 15:30 MT time.
British pound slumps after mixed UK data
On Friday, the British pound decreased against the American dollar, following the publication of dismal British economic growth data as well as a more upbeat report on the country’s current account. Meanwhile, market participants eyed upcoming American economic reports.
The currency pair GBP/USD reached 1.2447 during European morning trade, which is the session minimum. This pair consolidated at 1.2465, sliding 0.10%.
Cable was about to get backed at 1.2401, Thursday’s minimum and resistance at 1.2598, the peak of March 28.
The UK Office for National Statistics reported that its final reading of fourth quarter GDP was a 0.7% soar, which is in line with hopes as well as a previous estimate.
However, year-on-hear GDP added 1.9% during the fourth quarter, which is below expectations and a previous forecast for a surge rate of 2%.
A separate report revealed that the UK current account deficit dropped to £12.1 billion in the fourth quarter of the previous year from £25.7 billion of the third quarter.
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Will the US economy help the greenback?
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
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CAD is in focus
Follow Canadian core retail sales on September 18 at 15:30 MT time!
Main market movements on September 17
The US dollar gained after the Fed’s report, while riskier assets dropped. Let’s have a closer look.
How to trade GBP after BOE statement?
Keep an eye on the UK monetary policy statement on September 17 at 14:00 MT time!
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