The US economy has presented its first quarter GDP data for 2024, revealing a growth rate of 1.6% at an annualized pace, which is notably slower than the anticipated 2.5%.
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On April 23, 2024, the latest US Global Purchasing Managers' Index (PMI) was released, revealing a nuanced picture of the American economy.
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The US manufacturing sector has recently shown promising signs of revival, with the latest data indicating a return to growth after a prolonged period of contraction.
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The likelihood of the Fed initiating rate cuts in June has fallen to around 56%, down from 63.8% last week.
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On Friday, March 29, 2024, the US Bureau of Economic Analysis released the Personal Consumption Expenditures (PCE) data, a significant indicator of inflation that the Federal Reserve closely monitors.
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Recent economic reports have highlighted that inflationary pressures in the United States are persisting, with both consumer and wholesale prices showing increases that surpassed expectations.
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GBP/USD pair is maintaining a favorable position, hovering around 1.2160, benefitting from the recent weakness of the US dollar. Bank of England (BoE) Governor Andrew Bailey has indicated that interest rates are likely to stay in the vicinity of the current 5.25% level to bring inflation back to the target of 2%.
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We would like to inform you of changes to the trading conditions for the following instruments due to the upcoming Labor Day on 4th September.
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