Midweek trading ideas: Can GBP/USD bounce back?

Markets remain focused on inflation, growth and the implications for interest rates ahead of central bank meetings in June. As traders reacted to Tuesday’s US consumer price data, which showed that inflation jumped to 3.8% in April, the dollar strengthened against peers such as the pound and stocks softened, with the S&P 500 falling 0.2%. Oil prices remain a dominant macro force, with international benchmark Brent crude holding above $100 a barrel amid the ongoing Middle East conflict. Turning to the remainder of the week, Wednesday will bring US producer price data, with the ‘core’ measure expected to accelerate. On Thursday the focus will be on US retail sales and jobless claims, and Britain’s economic growth. A lacklustre UK GDP print could add to the country’s economic woes just as political turmoil pushes government borrowing costs to their highest level since the late 1990s. Website: http://www.cmcmarkets.com/en-gb/ 📺 Get the latest daily analysis on key markets such as US 30, UK 100, Germany 30, Japan 225, USD/JPY, EUR/USD, GBP/USD, Brent and West Texas Crude Oil and Gold via our CMC TV playlist. CMC Markets is a global leader in online trading, offering spread betting and contracts for difference (CFDs). Learn how to spread bet and trade CFDs with our trading strategy videos. CMC Markets offers trading on thousands of financial markets including forex, indices, commodities, shares and treasuries. ➡️ Subscribe and don't miss another update! https://www.youtube.com/channel/UC_Q-HdXuWScFretXS7GfEjw?sub_confirmation=1 Follow us: X (Twitter): https://twitter.com/CMCMarkets LinkedIn: https://www.linkedin.com/company/cmc-markets/ Facebook: https://www.facebook.com/cmcmarkets.uk Follow Michael Kramer: X (Twitter): @MichaelMOTTCM YouTube: @Themarketchronicles This video is for general information only and is not intended to provide trading or investment advice or personal recommendations. Any information relating to past performance of an investment does not necessarily guarantee future performance. CMC shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Please remember spread betting and trading CFDs carries significant risks and may not be suitable for all investors.