GBP/USD breaks above 1.3200 on UK jobs

Cable tested highs above 1.3200 on UK data.
UK’s Average Earnings rose 2.7% on a yearly basis.
Brexit remains the exclusive driver for Cable for the time being.

Pablo Piovano FXStreet

The buying interest is now picking up pace around the Sterling and is lifting GBP/USD back above the 1.3200 handle, or daily highs.

GBP/USD boosted by data, looks to Brexit

Cable picked up extra pace on Tuesday after UK’s Average Earnings inc. Bonus rose at an annualized 2.7%, surpassing initial estimates. In addition, the jobless rate stayed put at 4.0% in August.

Further data saw Claimant Count Change ticking higher by 18.5K, more than forecasted while the Employment Change dropped by 5.0K 3M/3M.

In the meantime, Brexit headlines remains poised to dominate the sentiment around the British Pound, with the Cabinet expected to meet today ahead of the EU’s Brexit working dinner tomorrow.

GBP/USD levels to consider

As of writing, the pair is gaining 0.36% at 1.3201 facing the next hurdle at 1.3258 (high Oct.12) seconded by 1.3299 (high Sep.20) and then 1.3364 (high Jul.9). On the downside, a breakdown of 1.3126 (10-day SMA) would open the door to 1.3119 (21-day SMA) and finally 1.2921 (low Oct.4).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

AUD/USD rises to 0.6950 as USD slips on Fed's Warsh

AUD/USD regains traction and extends the bounce toward 0.6950 in the Asian session on Friday. Fed Chair Warsh's comments reinforce the selling pressure on the US Dollar, allowing the pair to stretch higher. Warsh said that he remains committed to delivering price stability without giving away anything on future interest rate path.

USD/JPY falls in symc with USD, gives up 158.00 after Warsh's speech

USD/JPY has come under fresh selling pressure and gives up 158.00 in the Asian session on Friday amid the emergence of fresh US Dollar selling. Fed Chair Warsh's non-committal commentary on the future tightening path, weighs on the US Dollar and the pair.

Gold extends gains nearing $4,200 as US Dollar struggles

Gold heads north for the second consecutive day, trading near $4,180, with bulls aiming for the $4,230 area, the top of October’s trading range. Precious metals have been boosted by lower US Treasury yields and dovish comments from Federal Reserve officials this week, which have undermined speculative support for the Greenback.

Busy week for Ripple’s RLUSD: What changes for stablecoin holders?

Ripple’s RLUSD is gaining ground across institutional finance, with a major bank launching custody services, a new wallet integration making it easier for developers to build payments and agentic experiences on the network, and a brokerage platform planning to use the stablecoin for settlement.

Hot inflation, falling yields: A new test for global markets

Global markets are confronting a difficult combination: renewed inflation pressure, expensive capital and growing scrutiny of the investment supporting the AI boom. The most revealing development this week was the demand for government bonds even as US inflation accelerated. My assessment is that investors should treat this as a test of financing resilience.

Everyone's dumping Gold after hot US inflation. Here's why $4,100 could be a floor, not a cliff

Gold (XAU/USD) is recovering from a sharp sell-off triggered by hotter-than-expected United States (US) inflation data released on Wednesday. The precious metal briefly plunged toward $4,073 as investors increased their bets on further Federal Reserve (Fed) interest rate hikes before recovering as US Treasury yields and the US Dollar (USD) reversed their initial gains.