GBPUSD builds cushion around 1.1900 as focus shifts to US Durable Goods Orders data – by Sagar_Dua24 GBPUSD Fed Inflation ApparelDurables DollarIndex
cushion around 1.1880 as overall optimism in the market is support bulls while the upside is capped amid uncertainty over the release of the US Durable Goods Orders data.
The market sentiment remained upbeat on Monday despite tensions between North Korea and the US. Going forward, the risk profile is expected to remain solid amid an absence of critical triggers for decisive action. is facing pressure around 107.00 after a sheer rebound on Friday from 106.40. Meanwhile, the 10-year US Treasury yields have rebounded to nearly 3.83% after Federal Reserve hiked the target for neutral rates.
Fed policymaker has considered a range of 4.75% - 5.25% as reasonable for the policy rate end-point. She further added that the central bank wants to see a slowdown in the economy to cool down the red-hot inflation. This week, major action will come after the release of the US Durable Goods Orders data, which will release on Wednesday. As per the estimates, the economic catalyst will remain steady at 0.4% Consistency in demand for durable goods in times when the Fed is struggling to drag the core Consumeris focusing to cool down red-hot inflation by downsizing overall demand for households as it won’t leave any hope for manufacturers to keep prices stable or higher.
On the UK front, UK Finance Minister Jeremy Hunt said on Friday, “I am confident we will be able to remove the vast majority of trade barriers with the European Union outside the single market.” He further added that “We can find other ways to more than compensate for the advantages of being in the single market,”Sterling. The monthly Retail Sales landed at 0.6%, against expectations of a flat performance. While the annual data improved to -6.1%.
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