GBPUSD in a Risky Bearish Scenario Ahead of US CPI Data
Today, the US CPI inflation data will be released, and it is expected to be a volatile day. The market will speculate about a potential FOMC rate cut at the September meeting based on this data.
The price has broken out from the structure zone, supporting a bearish wave. However, the main driver of today’s movement is the high level of speculation surrounding the data. USD Consumer Price Index (YoY) (Aug) Expected 2.6% Previous 2.9%
US Consumer Price Index ex Food & Energy (YoY) (Aug) Expected 3.2% Previous 3.2%
You can share your opinion below! Thank you:)
Comment
GBPUSD +45 pips down so far and on the right direction:)
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.