GBP/USD corrects further to 1.2480 as Fed policy comes into picture ahead of US GDP GBPUSD RiskAversion BOE Fed SEO
is aiming to extend its recovery above 101.33 also negative market sentiment is weighing on risk-sensitive assets.
Meanwhile, S&P500 futures are consistently adding losses in the overnight session as the street is worried over quarterly results from giant technology stocks. The week is going to be pretty busy as three FAANG stocks will report their quarterly results. Meta Platforms , Amazon, and Google. Also, Microsoft will come forward with quarterly earnings and revenue guidance.
However, the release of the US Durable Goods Orders and Gross Domestic Product data will provide more clarity this week. March’s Durable Goods Orders data is seen expanding by 0.8% vs. a contraction of 1.0%. Later this week, Annualized GDP is expected to contract to 2.0% vs. the former release of 2.6%. A decline in GDP numbers would fuel fears of a slowdown in the United States economy. This may also force the Federal Reserve to go for a steady stance on interest rate guidance.
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