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The GBP/USD pair is experiencing a backslide as the Pound Sterling weakens against the dollar. US data supports the USD, while the UK data-light calendar leaves the GBP to twist.
The pair is expected to see US & UK GDP and US PCE on Friday. On Wednesday, US Durable Goods Orders beat expectations, with 0.2% and clearing the -0.5% forecast.
Thursday will bring US GDP numbers, forecasted at 2.1%. The GBP/USD will focus on the UK’s GDP for the second quarter, which is expected to stay in line with the previous reading of 0.2%.
However, Friday’s action will likely be overshadowed by the US Personal Consumption Expenditure Price Index. US PCE inflation is forecast to print steady at 0.2% for August, with the annualized figure slipping from 4.2% to 3.9% for the same period.
