- The American primary PCE rises to 2.8 %, enhancing inflation fears in the Federal Reserve and Reducing the Digestive/US dollar climbing near 1.2967.
- UK’s retail sales overcome expectations, and the economy grows 0.1 % in the fourth quarter of 2024, enhancing the pound sterling.
- The market concentration is now turning into the main US data: ISM PMI, Jolts, and the Ronals Curral Nonfart Charge.
The British pound (GBP) remains firm, hovering about 1,2950 against the US dollar (USD), almost unchanged, as traders reviewed the latest inflation report from the United States (the United States) amid uncertainty about the possible escalation of the trade war after Trump imposed cars on cars. At the time of writing this report, the GBP/USD exchange rate is 1.2948.
GBP/USD carries a company despite the most hot and hotbred PCE and mixed feeling with the superiority of UK data and fears of the trade war looming on the horizon
Personal Consumption Expenditure Expensation Index (PCE) issued by the American Economic Analysis Office (Bea) remained unchanged at 2.5 % on an annual basis in February. The basic PCE print, which the Federal Reserve is looking for as a preferred inflation scale, has expanded by 2.8 % on an annual basis, an increase of 2.7 % for the same period. Although the publications have maintained the current situation, inflation continues to drift away from the goal of the Federal Reserve by 2 %.
Recently, the consumer feelings index at the University of Michigan have deteriorated slightly, as it decreased from 57.9 in primary reading to 57.0. American families are pessimistic, expected to increase prices by 5 % for one year, while inflation expectations have increased for five years from 3.9 % to 4.1 %. The poll said: “The decline in this month reflects a clear consensus through all demographic and political affiliations.”
Through the blessing, retail sales decreased in the United Kingdom (UK) in February compared to January, but it exceeded the estimates of the -0.3 % economists, and a 1 % increase in my mother. Also, the economy grew by 0.1 % by the end of 2024, and the National Statistical Office (ONS) revealed, as expected by analysts.
The data pushed GBP/USD to its daily peak of 1.2967, but it retreated after investors digested American numbers.
Next week, the UK’s economic list is still absent. In the United States, traders focus on the Declaration of the 2 April definitions, the ISM manufacturing manager for March, Jolts Jobs, and non -agricultural salaries.
GBP/USD price expectations: Technical expectations
GBP/USD is trading side without any clear bias on Friday before the weekend, however each of the number 1.3000 can pave the number 1.3000 the way for more upward trend. This is because buyers prevented the bears from withdrawing the exchange rate less than 1.2900, while preventing the pair from the 200 -day moving average test (SMA) of 1.2802.
Despite this, the bulls are not out of the forest. Although the RSI Index (RSI) is upward, it indicates that they lose some steam after retracting excessive lands in the peak area.
British pound price this week
The table below shows the percentage of change in the British pound (GBP) against the main currencies listed this week. The British pound was the strongest against the Japanese yen.
| US dollar | euro | GBP | JPY | CAD | Aud | Nzd | Chf | |
|---|---|---|---|---|---|---|---|---|
| US dollar | -0.21 % | -0.33 % | 0.51 % | -0.48 % | -0.48 % | 0.02 % | -0.28 % | |
| euro | 0.21 % | -0.23 % | 0.20 % | -0.22 % | -0.30 % | 0.29 % | -02 % | |
| GBP | 0.33 % | 0.23 % | 0.84 % | -62 % | -0.09 % | 0.52 % | 0.11 % | |
| JPY | -51 % | -0.20 % | -0.84 % | -0.98 % | -1.01 % | -0.46 % | -0.79 % | |
| CAD | 0.48 % | 0.22 % | 0.62 % | 0.98 % | 0.05 % | 0.50 % | 0.21 % | |
| Aud | 0.48 % | 0.30 % | 0.09 % | 1.01 % | -05 % | 0.58 % | 0.28 % | |
| Nzd | -02 % | -0.29 % | -52 % | 0.46 % | -0.50 % | -58 % | -0.23 % | |
| Chf | 0.28 % | 0.02 % | -11 % | 0.79 % | -0.21 % | -0.28 % | 0.23 % |
The heat map shows the percentage changes in the main currencies against each other. The basic currency is chosen from the left column, while the quotation currency is chosen from the top row. For example, if you choose the British pound from the left column and move along the horizontal line to the US dollar, the percentage offered in the box will represent the GBP (Base)/USD (quotation).
