GBPUSD Insight

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Key Points
- The U.S. February CPI recorded a year-over-year increase of 2.8%, falling below market expectations (2.9%) and the previous month’s figure (3.0%), providing relief to the market.
- In response to the 25% tariffs imposed by the U.S. on steel and aluminum, the EU and Canada have announced retaliatory tariffs on U.S. products.
- Regarding the Russia-Ukraine war, U.S. President Trump stated that U.S. government officials are currently heading to Russia. Meanwhile, Russia has maintained its position that it will respond after receiving concrete information from the U.S.
- The Bank of Canada is expected to cut rates as anticipated by the market but has hinted at a hawkish stance by closely monitoring future inflation expectations.

This Week’s Key Economic Events
+ March 13: U.S. February PPI
+ March 14: Germany February CPI

GBPUSD Chart Analysis
After breaking through the trend resistance, GBPUSD has maintained a steady uptrend, reaching the 1.30000 level. Since it is near a high point, there is a high possibility of a reversal in the near future, with a potential decline to the 1.28000 level. However, if it surpasses the 1.30000 level and reaches 1.31000, the upside potential will open up again, warranting a reassessment of the trend direction.