GBPUSD

The most critical macroeconomic data for the GBPUSD pair this week will be the UK's annual Consumer Price Index (CPI) for April, which will be published on Wednesday. The inflation rate is expected to rise from the previous period's level of 2.6% to 3.3%. An increase in inflation in line with or above expectations could support the British Pound by increasing market pressure on the Bank of England (BoE) to raise interest rates or maintain its current tight monetary policy stance. On the other hand, the unemployment claims, PMI indicators, and housing sales data to be released from the US on Thursday and Friday will also affect the weekly trend of the GBPUSD pair through the Dollar index. Positive data regarding the US economy could strengthen the Dollar, creating downward pressure on the pair, while data that falls below expectations could support the Pound's gains against the Dollar.