Pound Sterling Price News and Forecast: Breaks below 1.3400 as blowout NFP ignites US Dollar rally

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British Pound breaks below 1.3400 as blowout NFP ignites US Dollar rally

The Pound Sterling (GBP) falls below the 1.3400 figure on Friday, registering losses of 0.37% against the US Dollar (USD) after the latest Nonfarm Payrolls report in the US crushed estimates, backing the narrative that the economy may be close to full employment. Meanwhile, Iran backed Hezbollah’s decision about the ceasefire proposal by the US regarding Israel and Lebanon, which could stall negotiations between Tehran and Washington. Read More...

British Pound faces second straight weekly loss as tensions in the Middle East weigh ahead of US NFP

The GBP/USD pair holds modest gains near 1.3420 during the European trading hours on Friday. Despite the intraday rebound, the pair is set to register its second straight weekly loss as tensions in the Middle East weigh. Markets might turn cautious later in the day ahead of the key US employment report for May. The developments surrounding the US-Iran peace deal will also be closely watched. Read More...

British Pound Sterling leans on hikes its economy can't justify

Sterling is standing on a bet that gets harder to justify by the week. Markets still lean toward Bank of England (BoE) rate hikes this year, even as the economy beneath the Pound flashes contraction rather than the overheating that would normally warrant tighter policy. The Pound is holding up, but it is holding up on borrowed conviction, and the lender is the energy market. Read More...

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AUD/USD keeps range near mid-0.7100s as USD bulls await US CPI

AUD/USD steadies near mid-0.7100s in the Asian session on Friday, stalling the previous day's sharp decline to an over one-week low. The August PPI report reaffirmed Fed rate-hike bets and boosted the US Dollar on Thursday, which weighed heavily on the pair. However, hawkish RBA expectations limited losses for the Aussie as USD bulls now await the release of the US consumer inflation figures before placing fresh bets.

USD/JPY holds lower ground toward 154.00; looks to US CPI

USD/JPY holds lower ground toward 154.00 in the Asian session on Friday after hot Japanese PPI data bolster a more hawkish BoJ repricing and provide fresh impetus to the Japanese Yen. However, the downside appears capped as the US Dollar preserves overnight gains ahead of the latest US consumer inflation data.

Gold turns negative near $4,300 post-US CPI

Gold adds to Thursday’s weakness, trading comfortably in the sub-$4,400 zone per troy ounce at the end of the week. The yellow metal keeps the offered bias in the wake of the release of US inflation figures in August and amid the decent advance in the US Dollar.

Cardano approaches critical support as correction risks grow

Cardano (ADA) recovers slightly, trading at $0.206 at the time of writing on Friday, inches above the critical support zone after losing more than 6% so far this week. Weakening derivatives data and fading bullish momentum suggest a bearish near-term outlook, with a decisive close below the support zone potentially triggering a deeper correction for ADA.

US core CPI data set to ease in August as markets reprice Fed September rate decision

The US Bureau of Labor Statistics will publish the August Consumer Price Index data on Friday. The report is expected to show a small decline in annual core inflation. Any divergence from analysts’ estimates could influence the Federal Reserve’s policy outlook and impact the US Dollar’s valuation.

Venezuela’s 65-billion-barrel Oil deal could reshape America’s inflation fight

The United States (US) has secured unprecedented access to part of Venezuela’s vast Oil reserves. The timing is particularly significant as the war with Iran is disrupting Middle Eastern supplies, keeping energy prices elevated and reviving concerns about inflation.