Morning market update 12 08 2021:
Core CPI (MoM) (July) slightly missed expectations coming in at 0.3% seeing a pull back in the DXY to 92.90, with this cool down in the US dollar there is PPI (MoM) (July) at 20:30 GMT+8 tonight and Initial Jobless Claims also released at 20:30 tonight. And the main economic news event is the GBP GDP released at 14:00 today with a likely beat on expectations and with the GBPUSD is above the 1.38350 support level offering buying opportunities after the release giving time for price to settle after the figures come out. Also to consider is the DXY potentially also pulling back to 92.70 during today's session based on the CPI miss last night.
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