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Fed released the latest Beige Book showing that the U.S. economy is weak, reducing expectations for a hawkish Fed to raise interest rates. But at the same time, soaring inflation in the United Kingdom and energy prices intensified market concerns that the British economy may fall into recession, and the GBPUSD once depreciated to a new low since 1985. Although the new British Prime Minister’s energy support package will bring a short-term rebound to the pound, this may lead to further deterioration of the UK’s balance of payments and terms of trade, and soaring debt costs may continue to weigh on the pound, so the GBPUSD are expected to maintain a fluctuation trend. Investors must be cautious on it.
The trend of the GBPUSD can be paid attention to…
-Latest news on the Russian-Ukrainian war
-20:30 US Unemployment Claims for the week ending 9/3
-16:30 Bank of England announces inflation survey report
-22:00 U.S. Wholesale Sales (MoM) (July)
Which will influence the trend of GBPUSD, investors must grasp the timing of placing orders.
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Disclaimer: Information above can only be use for references and doesn’t represent our platform’s opinions.