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The markets continue to look for signals of disinflation in the United States. The latest PCE Index data, the US Federal Reserve’s preferred inflation gauge, is released on May 31, 2024.
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The EURGBP is driven by the question: which cuts first, the ECB or the BOE? Currently, swaps markets (chart below) imply that it will be the ECB (blue line).
![Magnifying glass focused on the word inflation on UK flag background. Magnifying glass focused on the word inflation on UK flag background.](https://img.capital.com/imgs/articles/263x190x1/shutterstock_2201019645.jpg)
UK stocks rise on softer inflation as rate cut odds increase
![ECB flag ECB flag](https://img.capital.com/imgs/articles/263x190x1/shutterstock_2138762345.jpg)
Trio of rate holds expected from the Fed, ECB, and BoE this week
![GBP GBP](https://img.capital.com/imgs/articles/263x190x1/GettyImages-1032529484_0.jpg)
UK Chancellor Hunt will deliver the 2023 autumn statement to MPs on Wednesday 22 November.
![GBP GBP](https://img.capital.com/imgs/articles/263x190x1/GettyImages-506987059-1-_0.jpg)
GBP/JPY aims to break higher but faces strong resistance
![British banknotes and coins photographed directly above British banknotes and coins photographed directly above](https://img.capital.com/imgs/articles/263x190x1/GettyImages-506987059-1-.jpg)
A preview of the upcoming UK jobs and CPI data and how it could affect UK assets.
![Bank of England building Bank of England building](https://img.capital.com/imgs/articles/263x190x1/GettyImages-1474849520.jpg)
The Bank of England has left rates unchanged at 5.25% with a 5-4 vote split after CPI dropped more than expected in August
![British banknotes and coins photographed directly above. The coins are in a stack, placed on top of the banknotes. British banknotes and coins photographed directly above. The coins are in a stack, placed on top of the banknotes.](https://img.capital.com/imgs/articles/263x190x1/GettyImages-506987059.jpg)
GBP drops after a softer CPI reading scares investors about the BoE intentions. JPY on the lookout for further policy tweaks from Governor Ueda.
![Digital generated image of golden air balloon in shape of dollar sign inflated using pump and flying up on white background. Inflation concept. Digital generated image of golden air balloon in shape of dollar sign inflated using pump and flying up on white background. Inflation concept.](https://img.capital.com/imgs/articles/263x190x1/GettyImages-1403606692.jpg)
A look at the key USD pairs ahead of the US CPI data out on Thursday
![UK projected interest rates in 5 years Street in City of London with Royal Exchange, Bank of England and new modern skyscrapers](https://img.capital.com/imgs/articles/263x190x1/GettyImages-923317900_0.jpg)
With inflation showing signs of easing yet labour market still tight, when will BoE start easing its monetary policy?
![GBP/EUR forecast One pound coin on top of 20 Euros banknote, next to a map of the EU](https://img.capital.com/imgs/articles/263x190x1/shutterstock_1499983064.jpg)
The British pound has been moving sideways against the euro, yet can it regain momentum? Read on for a GBP/EUR forecast.
![close up of $1 US dollar banknote close up of $1 US dollar banknote](https://img.capital.com/imgs/articles/263x190x1/GettyImages-670749951-2-.jpg)
USD trading setups post-CPI release
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Big tech stocks crashed in 2022—META, Microsoft, Apple and Tesla all saw big losses as 30% was wiped off the NASDAQ
![Market 2023 Outlook Market 2023 Outlook](https://img.capital.com/imgs/articles/263x190x1/image-3-_1.png)
2022 has been a year of geopolitical turmoil, economic uncertainty and tightening monetary policy, which has resulted in heightened volatility and unexpected market events.