In the US, William Dudley, Federal Reserve Bank of New York President, is due to deliver a speech in Bronx.

Headline inflation pierced the 5% mark. In the current environment, this only means more trouble for Britain, as tightening monetary policy is off the cards, especially after the QE2 decision.

In the US, Consumer Price Index (CPI), monthly measurement to value the price of services and goods bought by customers, reduce to -0.1% this time is expected from 0.2% on June. And the core CPI (Ex Food and Energy) is expected to reduce to 0.2% from 0.3% on June.

In the US, Producer Price Index a leading indicator of consumer inflation gained 1.6% in February wekk above the 0.7 increase forecasted by analysts and following 0.8% rise in the previous month. A further gain of 1.1% is expected now. Meanwhile Core PPI gained 0.2% in line with expectations following 0.5% increase in the month before. The same rise is expected now.

G20 Meetings are attended by finance ministers and central bankers from 20 industrialized nations including the G7 nations – Canada, Italy, France, Germany, Japan, the UK, and the US. The meetings are closed to the press but officials usually talk with reporters throughout the day, and a formal statement covering policy shifts and meeting objectives is released after the meetings have concluded.

It didn’t happen in the past week. Yet again, the interest rate was left unchanged, in a rate decision that was closely watched for a changed. Central bankers will continue rocking the pound in the upcoming week, as many speeches are scheduled.

In the US, ADP Non-Farm Employment Change, number of employed people during the previous month, excluding the farming industry and government is about to rise by 27K Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.

Avery busy week expects cable traders, with many important PMI figures standing out. Will the pound continue falling? Here’s an outlook for the British events and an updated technical analysis for GBP/USD, now below important support.

GBP/USD daily chart with support and resistance lines marked. Click to enlarge:

In the US, Federal Reserve Chairman Ben Bernanke; due to speak at the European Central Bank’s “Approaches to Monetary Policy Revisited – Lessons from the Crisis” Conference in Frankfurt. He controls short term interest rates and can affect the future monetary policy.

In the US, Federal Reserve Governor Janet Yellen; delivers a speech titled “Macroprudential Supervision and Monetary Policy in the Post-Crisis World” at the Annual Meeting of the National Association for Business Economics, in Denver, engagements are often used to drop subtle clues regarding future monetary policy;