GBP/USD rebounded from early-week losses on Tuesday, bouncing back up from a fresh technical floor near the 1.3450 level. Cable has been drifting within familiar technical levels as broad-market investor sentiment grinds to a halt ahead of key US economic figures.
It'll be a quiet market session on Wednesday; meaningful economic data is functionally absent on both sides of the Atlantic. Investors will be on the lookout for further political headlines from the Trump administration as traders await results from President Donald Trump's attempt to directly "fire" Dr. Lisa Cook from the Federal Reserve (Fed) Board of Governors on Monday.
US numbers to dominate the data docket later this week
The midweek data peace will end on Thursday, when the latest US Gross Domestic Product (GDP) growth figures will be released. Quarterly US GDP growth is expected to tick up to 3.1% on an annualized basis, but the key data print this week will be Friday's US Personal Consumption Expenditures Price Index (PCE) inflation print. PCE inflation is expected to rise slightly once again, and rising inflation pressures will make it difficult for the Fed to continue its march toward a fresh interest rate cut on September 17.
Source: Fxstreet
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