The GBP/USD pair oscillates in a narrow trading band through the early part of the European session on Wednesday and consolidates its recent gains to its highest level since June 2022 touched the previous day. The pair is currently placed around the 1.2500 psychological mark and seems poised to prolong the upward trajectory witnessed over the past month.
A modest intraday uptick in the US Treasury bond yields and a mildly softer risk tone assist the safe-haven US Dollar to stall its recent downfall to over a two-month low, which, in turn, acts as a headwind for the GBP/USD pair.
The USD, however, struggles to gain any meaningful traction amid firming expectations that the Federal Reserve (Fed) is nearly done with its tightening cycle. The current market pricing indicates an even chance of a 25 bps lift-off at the May FOMC meeting and the possibility of rate cuts by end-December.
The bets were reaffirmed by the weaker US macro data on Tuesday, which showed that job openings in February dropped to the lowest in nearly two years and Factory Orders declined for the second straight month.
The Labor Department’s monthly Job Openings and Labor Turnover Survey, or JOLTS report, was seen as a sign that the Fed’s efforts to slow the labor market may be having some impact. This, in turn, should keep a lid on any meaningful upside for the US bond yields and hold back the USD bulls from placing aggressive bets.
The factors above, to a larger extent, helps offset mixed signals from the Bank of England (BoE) policymakers over the future rate-hike path. On Tuesday, the BoE MPC member Silvana Tenreyro advocated for cutting rates sooner than thought, as the absence of cost-push shocks would bring down inflation well below targets.
In contrast, the BoE Chief Economist Huw Pill said that action is still needed to assess inflation prospects and that the onus remains to ensure enough policy tightening is delivered to see the job through.
Meanwhile, the lack of meaningful selling suggests that the path of least resistance for the GBP/USD pair is to the upside. Bullish traders, however, seem reluctant to place fresh bets and prefer to move to the sidelines ahead of the closely-watched US monthly jobs data – popularly known as the NFP report – on Friday.
Heading into the key data risk, Wednesday’s US economic docket, featuring the ADP report on private-sector employment and the ISM Services PMI, might provide some impetus later during the early North American session.
This Post Has 20 Comments
At RocketPlay, we pride ourselves on offering a premium online casino experience tailored specifically
for Aussie players. Welcome to RocketPlay, where Aussie players
can enjoy the ultimate online casino experience.
Live dealer games stream in HD quality even on mobile connections, ensuring that players can enjoy the full casino experience regardless
of their device choice. For players who prefer strategy-based gaming, RocketPlay offers a comprehensive selection of table games including digital versions of blackjack, roulette, poker, baccarat, and craps.
RocketPlay also lists return-to-player (RTP) percentages for popular
pokies, allowing users to choose games with higher
payout potential and play smarter. Each game on the platform
runs on an independent Random Number Generator (RNG), guaranteeing
random outcomes that can’t be influenced by the casino or players.
Whether spinning pokies on the go or joining a live casino session from home, RocketPlay keeps every experience fast, safe,
and rewarding. Every casino game, from pokies to blackjack,
runs on HTML5 for clean graphics and smooth play.
Die Top-Automaten sind in Casinos ohne Einsatzlimit
allesamt gespickt mit Wild-Symbolen sowie mit integrierten Free Spins und Bonus-Runden. Der Mittelmeerstaat hat sich in den zurückliegenden zwei Jahrzehnten zum Mekka
der europäischen Glücksspiel-Szene entwickelt.
Sie bieten die übliche, bekannte Sicherheit in einem absolut rechtskonformen Rahmen.
Los geht’s dabei für jeden neuen Spieler im Casino
mit dem Willkommensbonus. In Deutschland unterliegen die Spielanbieter
hinsichtlich der Marketingmaßnahmen gewaltigen Einschränkungen. Die Tischspiele stehen an erster Stelle,
wobei sich in den zurückliegenden zwei, drei Jahren noch eine zweite Kategorie herausgebildet hat – die Game-Shows.
Die Casinos ohne Einsatzlimit, wie zum Beispiel die Nolimit City Casinos,
geben bei überdurchschnittlich vielen Spins ein Gewinn an den Spieler zurück.
Vergleichsseiten wie casinotest.com helfen beim Finden und Kennenlernen neuer Anbieter und zeigen zugleich auf, worin die individuellen Stärken liegen. Meistens wird nach Casinos ohne Einsatzlimit und Casinos ohne Einzahlungslimit gesucht.
Auf die Prüfung und Bewertung von Casinoangeboten spezialisiert,
ist auch die Redaktion von casinotest.com. Der Grundgedanke der
international lizenzierten Casinos ohne Limits ist, den Nutzern mehr Eigenverantwortung zu gewähren.
References:
https://online-spielhallen.de/admiral-casino-aktionscode-ihr-schlussel-zu-exklusiven-vorteilen/
I had an unforgettable experience at 울릉도출장안마. It was pure bliss!
mexican rx online: mexican pharmacy – mexico pharmacies prescription drugs
pharmacies in mexico that ship to usa: purple pharmacy mexico price list – reputable mexican pharmacies online
rybelsus: cheap Rybelsus 14 mg – cheap Rybelsus 14 mg
furosemide 100mg: lasix 20 mg – buy furosemide online
buy semaglutide online: rybelsus price – Rybelsus 7mg
buy prednisone 50 mg: prednisone pharmacy prices – where can i get prednisone over the counter
farmacia online: Farmacie on line spedizione gratuita – farmacie online autorizzate elenco
farmacia online piГ№ conveniente: Tadalafil generico migliore – farmacie online sicure
dove acquistare viagra in modo sicuro: viagra senza ricetta – farmacia senza ricetta recensioni
farmacia online: Farmacia online piu conveniente – п»їFarmacia online migliore
acquisto farmaci con ricetta: Farmacia online migliore – Farmacie online sicure
viagra generico sandoz: viagra senza prescrizione – viagra generico prezzo piГ№ basso
п»їFarmacia online migliore: Farmacia online migliore – farmacia online senza ricetta
п»їViagra online cerca de Madrid: Viagra sildenafilo – sildenafilo cinfa 100 mg precio farmacia
farmacias direct: farmacia online barata – п»їfarmacia online espaГ±a
farmacia online barata: comprar tadalafilo – farmacia online envГo gratis
casibom guncel: casibom – casibom
casibom guncel giris