{"id":700256,"date":"2024-05-17T10:51:42","date_gmt":"2024-05-17T00:51:42","guid":{"rendered":"https:\/\/www.gomarkets.com\/?p=700256"},"modified":"2024-08-26T15:06:44","modified_gmt":"2024-08-26T05:06:44","slug":"fx-analysis-usd-halts-decline-gbp-downside-risks-ahead","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/articles\/forex-trading\/fx-analysis-usd-halts-decline-gbp-downside-risks-ahead\/","title":{"rendered":"FX Analysis \u2013 USD halts decline, GBP downside risks ahead"},"content":{"rendered":"<p>The recent USD decline stalled in yesterday\u2019s session \u00a0with FX traders seemingly taking the view that there is not enough thrust from US data to justify a significantly weaker USD just yet. Aside from the inflation aspect \u2013 and markets may have reacted a bit too optimistically to the CPI and PPI \u2013 jobless claims also eased back yesterday to 222k after a jump to 232k one week ago, mirroring the January reading where they reached 225k but then dropped back to the 200-210k area.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-406192\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2024\/06\/dxy.png\" alt=\"\" width=\"1830\" height=\"841\" \/><\/p>\n<p>GBP under pressure<\/p>\n<p>EURGBP has come off its 0.8610 peak in the past couple of sessions with a strong equity market benefitting the more cyclical and risk sensitive Pound Sterling. At the same time, volatility in the pair seems to be abating ahead of the key CPI figures in the UK next week.<\/p>\n<p>Risks are skewed to the dovish side for the Bank of England, and a move higher in EURGBP is a good chance as traders increase their bets on a June rate cut.<\/p>\n<p>Today, the key event for GBP traders is a speech by the BoE\u2019s Catherine Mann, who is considered the MPC\u2019s most hawkish member. Yesterday, Megan Greene echoed the recent cautious optimism on inflation expressed by Governor Andrew Bailey at the latest meeting.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-406191\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2024\/06\/eurgbp.png\" alt=\"\" width=\"1835\" height=\"835\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The recent USD decline stalled in yesterday\u2019s session \u00a0with FX traders seemingly taking the view that there is not enough thrust from US data to justify a significantly weaker USD just yet. Aside from the inflation aspect \u2013 and markets may have reacted a bit too optimistically to the CPI and PPI \u2013 jobless claims [&hellip;]<\/p>\n","protected":false},"author":48,"featured_media":693438,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2871],"tags":[],"class_list":["post-700256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex-trading"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FX Analysis \u2013 USD halts decline, GBP downside risks ahead - Wixad<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gomarkets.com\/en\/articles\/forex-trading\/fx-analysis-usd-halts-decline-gbp-downside-risks-ahead\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FX Analysis \u2013 USD halts decline, GBP downside risks ahead - Wixad\" \/>\n<meta property=\"og:description\" content=\"The recent USD decline stalled in yesterday\u2019s session \u00a0with FX traders seemingly taking the view that there is not enough thrust from US data to justify a significantly weaker USD just yet. Aside from the inflation aspect \u2013 and markets may have reacted a bit too optimistically to the CPI and PPI \u2013 jobless claims [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.gomarkets.com\/en\/articles\/forex-trading\/fx-analysis-usd-halts-decline-gbp-downside-risks-ahead\/\" \/>\n<meta property=\"og:site_name\" content=\"Wixad\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-17T00:51:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-26T05:06:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2024\/02\/AdobeStock_625915477.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"475\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lachlan Meakin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lachlan Meakin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.gomarkets.com\/en\/articles\/forex-trading\/fx-analysis-usd-halts-decline-gbp-downside-risks-ahead\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.gomarkets.com\/en\/articles\/forex-trading\/fx-analysis-usd-halts-decline-gbp-downside-risks-ahead\/\"},\"author\":{\"name\":\"Lachlan Meakin\",\"@id\":\"https:\/\/www.gomarkets.com\/es\/#\/schema\/person\/3be9f4cfdfb1cf0fc5ca416d0ad05509\"},\"headline\":\"FX Analysis \u2013 USD halts decline, GBP downside risks ahead\",\"datePublished\":\"2024-05-17T00:51:42+00:00\",\"dateModified\":\"2024-08-26T05:06:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.gomarkets.com\/en\/articles\/forex-trading\/fx-analysis-usd-halts-decline-gbp-downside-risks-ahead\/\"},\"wordCount\":222,\"publisher\":{\"@id\":\"https:\/\/www.gomarkets.com\/es\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.gomarkets.com\/en\/articles\/forex-trading\/fx-analysis-usd-halts-decline-gbp-downside-risks-ahead\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2024\/02\/AdobeStock_625915477.jpg\",\"articleSection\":[\"Forex\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.gomarkets.com\/en\/articles\/forex-trading\/fx-analysis-usd-halts-decline-gbp-downside-risks-ahead\/\",\"url\":\"https:\/\/www.gomarkets.com\/en\/articles\/forex-trading\/fx-analysis-usd-halts-decline-gbp-downside-risks-ahead\/\",\"name\":\"FX Analysis \u2013 USD halts decline, GBP downside risks ahead - 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Aside from the inflation aspect \u2013 and markets may have reacted a bit too optimistically to the CPI and PPI \u2013 jobless claims ","link":"https:\/\/www.gomarkets.com\/en\/articles\/central-banks\/economic-versus-the-federal-reserve-policy-implications\/","type":"next","category":"central-banks"},"previous":{"id":699397,"slug":"what-a-difference-a-cpi-day-makes","title":"What a difference a (CPI) Day makes","date":"2024-05-16 10:38:18","excerpt":"The recent USD decline stalled in yesterday\u2019s session \u00a0with FX traders seemingly taking the view that there is not enough thrust from US data to justify a significantly weaker USD just yet. Aside from the inflation aspect \u2013 and markets may have reacted a bit too optimistically to the CPI and PPI \u2013 jobless claims ","link":"https:\/\/www.gomarkets.com\/en\/articles\/central-banks\/what-a-difference-a-cpi-day-makes\/","type":"previous","category":"central-banks"},"category":{"slug":"forex-trading"},"_links":{"self":[{"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/posts\/700256","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/users\/48"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/comments?post=700256"}],"version-history":[{"count":0,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/posts\/700256\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/media\/693438"}],"wp:attachment":[{"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/media?parent=700256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/categories?post=700256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/tags?post=700256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}