/market_analysis/forex-market-analysis-14-august-2024/
Today’s market preview concisely examines the key factors influencing trading, which helps investors prepare for the day ahead.
UK core inflation rate YoY (July) and inflation rate YoY (July):
UK headline inflation was 2.2% in July, lower than the expected 2.3%. UK rate expectations currently show a 45% chance of a second 25 basis point interest rate cut at the September 19th BoE meeting.
US core inflation rate YoY (July) and inflation rate YoY (July):
GBP/USD is trading comfortably back above 1.2800 today, aided partly by yesterday’s weak performance of the US dollar. The pair tested the 1.2863 to 1.2896 range but didn’t break through. The market is now waiting for the US inflation data at 13:30 UK time to determine the pair’s next direction.
GBP/USD:
Gold prices trended up above 2470 US dollars:
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