The United States will publish CPI and core CPI on September 11, at 15:30 MT time.
GBP/USD keeps soaring, with focus on 1.42 mark
On Wednesday, the currency pair GBP/USD pair maintained its firm bid tone and in the last hour the pair managed to inch up to 1.4200.
Remarks from the US Treasury Secretary Steven Mnuchin, backing a weaker US dollar, kept applying downward pressure on the greenback and brought it to the lowest value for 3 years.
Versus the backdrop of optimism over a favorable divorce with the European Union, the currency pair showed a firm up-move today, underpinned by better-than-anticipated British wage surge data.
As for the bulls, they took a breather close to the mark 1.4200, with excessively overbought conditions encouraging some profit-taking following the pair's recent ascend of nearly 350-pips for the last three trading sessions.
Market participants are currently waiting for the publication of flash American PMI prints that along with the existing home sales report would ensure some trading impetus.
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
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.
Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
The market sentiment remains risk-off amid rising virus cases around the world and fears over new restrictions and lockdowns.