GBPJPY Possible Correction Downwards

#market_update #economic_events


🌟 Important Market Events Today 🌟


Here are a few key economic events set to impact the market today:


💰 Inflation:

Economists anticipate that U.S. headline inflation held steady at 3.4% annually in May. If the inflation rate is significantly higher, it could be poorly received by equity markets, which are currently at record highs, particularly as it would counteract the positive cooling trend observed in April.


🏛 Federal Reserve and Monetary Policy:

The Fed is expected to maintain interest rates at 5.25% to 5.5%, with attention on the updated economic projections, known as the "dot plot," and Chair Jerome Powell's news conference for hints on the timing and pace of rate cuts. The consensus is that the number of rate cuts in 2024 will be reduced from three to two. Despite this, Powell is likely to adopt a relatively dovish tone due to recent disappointing growth indicators.


Stay tuned for updates and insights on these critical events!


🎯 Feel free to share some of your insights and interact with the community!

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