Pound Sterling Price News and Forecast: GBP/USD gains ground to near 1.3580 on Thursday
|GBP/USD extends the rally above 1.3550 ahead of UK monthly GDP data
The GBP/USD pair extends its upside to near 1.3580 during the Asian trading hours on Thursday. The cooler-than-expected US inflation data weighs on the US Dollar (USD) against the Pound Sterling (GBP). The UK monthly Gross Domestic Product (GDP) for April and the US Producer Price Index (PPI) report will be in the spotlight later on Thursday.
Traders raise their bets that the US Federal Reserve (Fed) will deliver a rate cut by September. Some analysts expect the Fed will deliver more than one interest-rate cut this year. This, in turn, exerts some selling pressure on the major pair. Read more...
GBP/USD rebounds to hold firm to congestion ahead of key US PPI inflation
GBP/USD found some bullish tailwinds on Wednesday, erasing the previous session’s gains and climbing back into the 1.3550 level. Cooler-than-expected US Consumer Price Index (CPI) inflation figures from the initial post-tariff reference period bolstered investor hopes for Federal Reserve (Fed) interest rate cuts later this year, and US Producer Price Index (PPI) business-level inflation will follow up on Thursday.
UK economic data remains limited through this week. A monthly Gross Domestic Product (GDP) update from April is due on Thursday; however, the backdated growth figures are from April and are unlikely to have a material impact. UK Industrial and Manufacturing Production data is also due on Thursday, and is broadly expected to begrudgingly hold in contraction territory. Read more...
GBP/USD climbs as US CPI miss fuels Fed rate cut bets
GBP/USD advances on Wednesday during the North American session, boosted by a weaker-than-expected consumer inflation report in the United States (US), which increased speculation that the Federal Reserve (Fed) may reduce borrowing costs twice in 2025. At the time of writing, the pair trades at 1.3537, up 0.34%.
The Consumer Price Index (CPI) in May rose less than estimates. Headline figures increased by 2.4% YoY, up from 2.3% a month ago but below forecasts for a 2.5% rise. Core CPI, which excludes volatile items like food and energy, advanced 2.8% YoY, unchanged compared with April’s data. Read more...
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