PMI<\/strong><\/a>, which was almost unchanged at 52.5, pointing to weak expansion. Still, it\u2019s hard to see how the UK can avoid a recession with weak growth and increasing inflation. Business expectation is dropping, and that will likely lead to a cutback in spending, hiring and investment, which won\u2019t help the economy one bit.<\/p>\nThere is plenty of anticipation ahead of Jerome Powell\u2019s speech at Jackson Hole on Friday, but investor\u2019s shouldn\u2019t ignore some major events before Powell\u2019s speech. Durable goods orders will be published Today, with the headline reading expected to slow to 0.6% in July, down sharply from 2.0% in June. Thursday brings US GDP for Q2, which is expected to come in at-0.8% QoQ, after a 0.9% reading in the first quarter. With the Fed stating that US data will be critical in determining its rate policy, the dollar would show some movement after these releases, just as it fell sharply today after the soft New Home Sales reading.<\/p>\n","protected":false},"excerpt":{"rendered":"
GBP\/USD – British Pound Jumped US Dollar British pound jumped 0.82% yesterday, as the currency has rebounded from its worst week of the year. GBP\/USD went down 2.53% last week, as the USD has found strength after weeks of beating a retreat. GBP\/USD climbed yesterday after US New home sales dropped to 511 thousand in<\/p>\n... continue reading<\/a>.","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17],"tags":[20,168,19,24,157,162],"yoast_head":"\r\nGBP\/USD - British Pound Jumped US Dollar<\/title>\r\n<meta name=\"description\" content=\"British pound jumped 0.82% yesterday, as the currency has rebounded from its worst week of the year. 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