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May 19, 2021 01:31 GMTFXStreet News
GBP/USD consolidates the previous day’s gains in a choppy range.
UK’s Frost warns of NI turbulence, PM Johnson backs tariff-free trade deal with Australia.
Fears of Indian variant probing unlock plans battle BOE’s assurance of no policy adjustments, for now.
UK CPI, FOMC minutes will be the key for fresh impulse.
GBP/USD bulls catch a breather around 1.4180-90 after a three-day uptrend that poked yearly high the previous day. In doing so, the cable portrays cautious sentiment ahead of the key UK Consumer Price Index (CPI) data and the US Federal Open Market Committee (FOMC) meeting minutes during early Wednesday.
May 19, 2021 00:26 GMTFXStreet News
US equities stay pressured amid downbeat data, fears of reflation and chip shortage.
Technology shares couldn’t keep early-day bounce.
US housing data dimmed upbeat earnings of Home Depot, Walmart.
White House conveys good news for EVs, Japan joins US, China to push chipmaking.
Wall Street benchmarks dropped for the second consecutive day amid mixed signals and extended uncertainty over Fed’s next move. Technology shares remain as the bear’s favorites while retails also couldn’t cheer upbeat results from giants. US housing data came in a weaker-than-expected and dimmed global policymakers’ battle to renew market sentiment towards risk-on.
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