GBPINR Futures Eye 105 Mark; UK Employment Data Due

Published on Dec 12, 2023 12:23

GBPINR December futures are seen eyeing 105 mark, although upward momentum in the counter seems limited ahead of crucial US data due this week. The futures pair is quoting at 104.91, up marginally on the day. US consumer and producer price inflation data is likely to provide clarity to upcoming Federal monetary meeting to be held this week. GBPUSD is also staying short of $1.26 levels as dollar index holds firmly near 104 mark, limiting gains in its basket currencies. The counter is trading at $1.2581, up 0.2% on the day. Meanwhile, Bank of England rate decision also looms for the week. For today, market participants will focus on the UK employment data, including the Unemployment Rate, Claimant Count Change, and wage inflation data.