GBPUSD British Pound/US DollarSAXO:GBPUSDShavyfxhubGBPUSD ECONOMIC DOCKETS. Core PCE m/m: 0.3% (as expected). YoY core PCE rose to 3.4% (highest since late 2023), showing sticky underlying inflation.  Final Q1 GDP q/q: 2.1% (strong beat vs. 1.6% expected; upward revision from prior estimates). GDP Price Index 3.6% q/q (vs. 3.5% exp).  Initial Unemployment Claims: 215K (better than 225K expected, 227K prior) — labor market remains tight.  Durable Goods Orders m/m: Headline -4.5% (near expectations, volatile transport drag). Core ex-transport +1.3% (solid beat vs. ~0.5% expected) — underlying business investment holding up.  Personal Income m/m: 0.7% (beat). Personal Spending m/m: 0.7% (beat) — consumption resilient.  Implications for July FOMC (July 28–29) This mix reduces already-low odds of a near-term rate cut and supports a data-dependent, patient stance. The Fed’s preferred inflation gauge remains elevated, growth is holding up better than feared, and the labor market isn’t softening meaningfully.  • Hawkish elements dominate: Sticky core PCE + stronger GDP/growth/income/spending give the Fed little reason to ease soon. Markets had priced limited cuts anyway; today’s data pushes expectations further out.  • Counterpoints muted: The durable goods headline drop looks volatile/idiosyncratic (aircraft). Core orders and spending strength suggest it’s not a broad demand collapse. Bottom line: Fed likely on hold in July (high probability of no change). This setup favors “higher for longer” until clearer disinflation or labor softening emerges. GBPUSD supply roof will be watched. #GBPUSD