Manufacturing Data May Shake the USD
The United States will publish the ISM Manufacturing PMI on September 1, at 17:00 MT time (GMT+3).
GBP/USD is shy amid UK May’s speech and North Korea news
On Friday, having grown to 1.3590, the currency pair GBP/USD pair faced a phase of consolidation because financial markets waited for the UK PM Theresa May’s speech for further direction.
The pair GBP/USD definitely stuck below the level of 1.3600.
The spot is still on the defensive. It’s because market participants simply shift to safety amid resuming North Korean geopolitical tensions.
Furthermore, the bulls would like to stay in a wait and watch mode ahead of the UK PM May’s decisive speech due to be delivered in Florence a bit later today.
Financial markets want some clarity on the Brexit strategy because the United Kingdom and the EU are still in a deadlock as for the Brexit divorce bill.
May’s statement will probably drive market sentiment behind the GBP. Apparently, any dismal statements could potentially push Cable back towards 1.3450 levels. If financial markets look for some clarity on May’s Brexit strategy, the spot could overleap 1.3650.
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Strong US Retail Sales Pressed Gold
The US showed strong retail sales for August despite the spread of the Delta virus strain. As a result, the US dollar rocketed and gold dropped by 2286 points in half an hour after the release.
What to expect from Monthly Retail Sales data?
The United States will release MoM Retail Sales data on September 16, 15:30 GMT+3.
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