We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood

We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details

Trader Affiliates

Market News Some Buyers Enter the GBP/USD Near 1.2700 as US PCE Data Approaches

Some Buyers Enter the GBP/USD Near 1.2700 as US PCE Data Approaches

The GBP trades for the third consecutive week in positive territory beneath 1.2700. The third quarter growth rate for the US economy increased from 4.9% to 5.2%, exceeding the market consensus of 5.0%. Governor Bailey of the BoE stated that whatever it takes to reduce inflation to its target of 2%, the central bank will do. Trading professionals will attentively monitor US Core PCE inflation data.

TOP1 Markets Analyst

2023-11-30

9022

On Thursday morning, the GBP/USD pair attracted some buyers below the psychological 1.2700 level during the early Asian session. The weakened US Dollar (USD) nevertheless provides some support for the major pair. Daily gain of 0.02%, the GBP/USD is currently trading near 1.2695 as of press time.

On Thursday, the US Bureau of Economic Analysis (BEA) reported that third-quarter (Q3) growth for the US economy increased to 5.2% from 4.9% previously estimated, exceeding the market consensus of 5.0%. The statement by Federal Reserve (Fed) Governor Michelle Bowman that she aimed to maintain the possibility of additional rate increases has generated apprehension regarding the sustainability of inflationary pressure. Governor of the Federal Reserve Christopher Waller stated earlier this week that further rate hikes are unnecessary.

In spite of the fluctuating labour market and decelerating inflation, investors are expected to place greater reliance on the October Core Personal Consumption Expenditure Price Index (PCE). It is anticipated that the monthly and annual Core PCE will decrease to 0.2% and 3.5%, correspondingly. These numbers may influence the Fed's forthcoming decision-making.

Andrew Bailey, governor of the Bank of England (BoE), stated on Wednesday that the central bank will do whatever it takes to reduce inflation to its objective of 2% in the United Kingdom. However, Bailey added that the central bank has not yet observed sufficient progress to be optimistic.

Traders will maintain a vigilant eye on the Core PCE inflation data, which is scheduled for release later on Thursday. Furthermore, the weekly US Jobless Claims, the Chicago PMI, and Pending Home Sales are scheduled for release. Given the lack of significant economic data from the United Kingdom, the GBP/USD pair continues to be influenced by the price dynamics of the USD.