UK GDP on the agenda for today

<p>Markets are settling down after the volatile movements amid the US CPI data yesterday. The bond market puked and that for me is the key takeaway move, with equities also failing to hold on to gains and reversing lower thereafter. Even if Wall Street did close marginally higher, it definitely felt like a loss.</p><p>In FX, the dollar rebounded strongly as the inflation numbers all but served to validate the current market pricing as seen <a href="https://www.forexlive.com/news/how-has-the-fed-pricing-changed-after-the-inflation-numbers-yesterday-20230811/" target="_blank" rel="follow">here</a>.</p><p>USD/JPY continues to be the main pair to watch amid the rise in yields, as it starts to creep towards the 145.00 mark again. Time for Japanese officials to step in and comment?</p><p>Looking ahead, we will have UK GDP on the agenda today and overall, it should just underscore stagnation in the UK economy in the last quarter. That won't breathe much confidence towards the outlook as inflation continues to remain high and the BOE still needs to tighten financial conditions further in the months ahead.</p><p>0600 GMT – UK June monthly GDP figures0600 GMT – UK Q2 preliminary GDP figures0645 GMT – France July final CPI figures0700 GMT – Spain July final CPI figures</p><p>That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.</p>

This article was written by Justin Low at www.forexlive.com.