Sterling reverses below 1.3650 ahead of US CPI and UK GDP
The post Sterling reverses below 1.3650 ahead of US CPI and UK GDP appeared on BitcoinEthereumNews.com. Sterling pulled back from a fresh peak near 1.3650 on Monday, easing close to 1.3610 through European trade after the Asian session squeezed the Pound to a new local high. The rejection from the 1.3650 area produced a sharp intraday reversal, with a string of red candles unwinding most of the overnight push and pointing to fading upside momentum ahead of a heavy data week. The week ahead is a US-heavy affair: Tuesday’s April Consumer Price Index (CPI) is the centerpiece, with consensus penciling in 0.6% MoM and 3.7% YoY headline alongside a 0.4% MoM, 2.7% YoY core read, in part reflecting the first full month of Iran-conflict energy pass-through. Wednesday’s Producer Price Index (PPI) print is forecast hotter again at 0.5% MoM and 4.9% YoY, with Thursday’s Retail Sales penciled at 0.5% MoM. A heavier Federal Reserve speaking calendar bookends each release, with Williams, Goolsbee, Ka