GBP/USD continues to juggle around 1.2440 ahead of UK Retail Sales – by Sagar_Dua24 GBPUSD Fed Inflation RiskAversion RetailSales
A flat-to-positive performance has been recorded for the S&P500 futures in the Asian session. US equities were beaten down on Thursday amid mixed earnings from the banking sector and weak revenue guidance from Tesla. The overall market mood is risk-averse, however, a stock-specific action is highly active.
Quarterly earnings from the US banking sector have been a mixed bag this time as JP Morgan Chase and Morgan Stanley joined with companies beating Wall Street estimates while Goldman Sachs reported poor figures. However, it conveys that the overall US banking system is resilient. is demonstrating a lackluster performance around 101.80, shifting its focus toward the Federal Reserve ’s monetary policy meeting, which is scheduled in the first week of May.
Cleveland Federal Reserve President Loretta Mester reiterated on Thursday that the Fed has more work to do with inflation in the US staying too high, per Reuters. He further added, "Fed will need to hike policy rate to over 5% and hold there for a while."Sterling front, after higher-than-projected inflationary figures and the labor cost index, investors are shifting their focus toward Retail Sales data. As per the estimates, UK Retail Sales contracted by 0.
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