GBPUSD has an upward trendThe dollar fell slightly in mid-session after data for US retail sales rose more than expected in September, as consultants focused on a series of speeches from government agencies. US Federal Reserve (Fed) officials.
Marc Chandler, Chief Market Strategist at Bannockburn Global Forex, said: “The view that the US economy slowed in the fourth quarter is because consumers will cut back on spending activities after ramping up spending. spent in the third quarter".
Despite positive sales, LPL Financial Chief Economist Jeffrey Roach noted that there are several headwinds affecting American consumers. “Investors need to look at sales figures to get a better view of consumers. Increasing credit usage and early signs of overdue debt could reduce spending demand," he emphasized.
Traders are assessing whether the US central bank may raise interest rates again, in an effort to bring inflation closer to its 2% target. According to CME Group's FedWatch Tool, Fed funds futures traders are pricing in a 43% chance of another rate hike this year, but only a 12% chance of a rate hike next month.
In the opposite direction, the Euro increased 0.08%, reaching 1.0569 USD.
