The British pound continues to advance slightly against the US dollar for the third day in a row...while the euro is still located near its lowest levels against the pound since August of the year 2022 at 0.84308.
With this weak economic performance, today's tightening speech from the Fed and monetary policymakers...could erase the pound's recent gains and restore the bearish trend.
Market expectations have declined about the possibility of the Fed cutting interest rates in September and November with the sudden rise in employment in May.
In today's numbers, as expected, the GDP did not grow last April on a monthly basis, but grew by 0.6% on an annual basis...while services grew by 0.2% in the same period and grew by 0.9% in the three months ending in April as well and beating expectations.
Consumer Price Index inflation in the United States is expected to hold at 3.4% on an annual basis, slowing to 0.1% on a monthly basis from 0.3%.
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