GBP/USD edges up to 1.2632, navigating through thin liquidity and a light economic calendar on both sides of the Atlantic. US Durable Goods Orders exceed expectations, while consumer concerns over inflation temper consumer confidence. Market focus on Fed Governor Waller's upcoming speech and core PCE inflation data for potential rate cut insights. Thin liquidity conditions prevail in the financial markets amid a shortened week in observance of Good Friday.
Aside from this, GBP/USD traders are eyeing the release of the Fed’s preferred measure of inflation, the Core Personal Consumption Expenditure price index. If inflation edges lower, that could fuel rate cut speculations of the Fed, but the figures must be taken with a pinch of salt as Fed Chair Jerome Powell would speak at 15:30 GMT.
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