Keep an eye on US inflation data
The United States will publish CPI and core CPI on September 11, at 15:30 MT time.
GBP/USD goes down steeply to 1.2870
On Monday, the GBP/USD pair didn’t manage to sustain the revival above 1.29 handle, and took a steep U-turn over the previous hour, as the bears were about to test the 1.2850 support.
The currency pair GBP/USD slumped below daily pivot, showing 1.2887
The latest series of dismal British fundamentals also keeps market sentiment around the British pound undermined because traders fear that the negative macro news could keep the Bank of England away from maintaining its latest hawkish stance.
Further, renewed weakness in crude prices along with fresh USD buying across the board, contributes to the latest leg lower in the spot. The greenback is still broadly underpinned because the bulls keep riding higher on positive American payrolls data published last Friday.
Traders are currently focused on the American labor market conditions index for new trading impetus because the British docket is still data-dry today.
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Canadian GDP: the end of loonie’s consolidation?
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
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.
Latest news
US stimulus package improved sentiment
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
The US weekly labor data is out!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.
Main market news on September 23
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
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