Forex
GBP/USD Holds Steady Ahead of Crucial Economic Data Releases
The GBP/USD currency pair remains in a stable position around 1.3500 ahead of crucial economic data releases from the United States and the United Kingdom.
US CPI data is expected to show a moderate month-on-month rebound in both headline and core price pressures, with annual rates slightly lower than June's readings.
The UK Q2 GDP growth is predicted to slow down to 0.4% from 0.6% in the first quarter this year, but still remain higher than the previous reading of 0.9% on an annualized basis.
Analysts at Danske Bank highlight that 'today's most important data release will be the US July CPI', which could have a meaningful impact on Federal Reserve interest rate expectations.