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Yesterday, the UK's April Consumer Price Index (CPI) inflation rate was announced to be 2.3%, exceeding the expected 2.1%. The service price inflation rate recorded 5.9%. Although this was a slight decrease compared to the previous month, it also exceeded the expected 5.5%. Due to the higher-than-expected April inflation rate, the possibility of a rate cut in June seems to have diminished. In the United States, the Federal Open Market Committee (FOMC) minutes were released, revealing that several Federal Reserve members expressed willingness to take additional tightening measures if necessary. The market interpreted this as the Fed leaving the door open for further tightening, thereby dampening expectations for a rate cut.
- On May 24th, Germany's Q1 GDP will be announced.
- On May 29th, Germany's May CPI will be announced.
- On May 30th, the U.S. Q1 GDP (QoQ) will be announced.
- On May 31st, the Eurozone's May CPI and the U.S. April Personal Consumption Expenditures (PCE) inflation rate will be announced.
The GBPUSD has rebounded from its low and has broken through the upper trend channel resistance. This suggests further upside, and this rise is expected to continue up to the 1.32000 level. However, given that expectations for a Federal Reserve rate cut are being pushed back, the dollar's value may not fall easily, so the rise to the 1.32000 level should be viewed more long-term than before.
If movements differ from expectations, I will promptly revise the strategy.
I’m happy to see you all. Please share your personal opinions in the comments. Don’t forget to like and subscribe!
Yesterday, the UK's April Consumer Price Index (CPI) inflation rate was announced to be 2.3%, exceeding the expected 2.1%. The service price inflation rate recorded 5.9%. Although this was a slight decrease compared to the previous month, it also exceeded the expected 5.5%. Due to the higher-than-expected April inflation rate, the possibility of a rate cut in June seems to have diminished. In the United States, the Federal Open Market Committee (FOMC) minutes were released, revealing that several Federal Reserve members expressed willingness to take additional tightening measures if necessary. The market interpreted this as the Fed leaving the door open for further tightening, thereby dampening expectations for a rate cut.
- On May 24th, Germany's Q1 GDP will be announced.
- On May 29th, Germany's May CPI will be announced.
- On May 30th, the U.S. Q1 GDP (QoQ) will be announced.
- On May 31st, the Eurozone's May CPI and the U.S. April Personal Consumption Expenditures (PCE) inflation rate will be announced.
The GBPUSD has rebounded from its low and has broken through the upper trend channel resistance. This suggests further upside, and this rise is expected to continue up to the 1.32000 level. However, given that expectations for a Federal Reserve rate cut are being pushed back, the dollar's value may not fall easily, so the rise to the 1.32000 level should be viewed more long-term than before.
If movements differ from expectations, I will promptly revise the strategy.