Pound Sterling Price News and Forecast: Climbs as jobless claims dent USD despite soft UK GDP

FXStreet Team FXStreet

GBP/USD climbs as jobless claims dent USD despite soft UK GDP

The Pound Sterling (GBP) rallies during the North American session on Thursday versus the US Dollar (USD) after new jobs data in the US contradicts a stellar Nonfarm Payrolls report released a day ago. Meanwhile, the UK economy grew weaker than expected, yet the British Pound continues to trade with gains. GBP/USD trades at 1.3664, up 0.28%. Read More...

GBP/USD holds above 1.3600 despite grim UK economic data

The Pound (GBP) lost ground against its main peers on Thursday, following a string of disappointing UK economic indicators. The GBP/USD pair, however, has remained steady above 1.3600 and is picking up to 1.3640 at the time of writing, keeping a mild upside trend from last week’s lows intact. Read More...

Pound Sterling remains depressed as softer UK Q4 GDP print reaffirms BoE rate cut bets

The GBP/USD pair turns lower for the third straight day on Thursday and retreats further from a one-week high, around the 1.3715 region, touched the previous day. Spot prices, however, hold above the 1.3600 mark through the early European session and move little following the release of rather unimpressive US macro data. Read More...

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD clings to daily gains near 1.3550

GBP/USD adds to Friday’s advance, briefly hitting three-month tops near 1.3570 before edging lower on Monday. Fading expectations of a Fed rate hike in September weigh on the Greenback, helping Cable to keep its bullish momentum ahead of the release of the UK jobs report on Tuesday.

EUR/USD: Gains appear capped by 1.1600

EUR/USD consolidates its daily gains well north of the 1.1500 hurdle following the closing bell on Wall Street on Monday. The pair’s multi-day bounce comes on the back of renewed selling pressure on the US Dollar investors continue to trim bets of Fed rate hikes. Moving forward, Germany’s ZEW prints are due on Tuesday alongside a slew of US hard data.

Gold loses some traction, still above $4,400

Gold faces some loss of momentum and slips back toward the vicinity of the $4,400 mark per troy ounce on Monday. The yellow metal adds to Friday’s uptick and its positive performance follows the steady offered stance in the US Dollar amid dwindling bets for further tightening by the Fed in the next few months.

Strategy pauses Bitcoin sales, increases USD Reserve to $4.8 billion

Bitcoin (BTC) treasury firm Strategy (MSTR) increased its USD Reserve to $4.8 billion after raising $333.7 million through common stock sales, while also repurchasing $132.2 million of its STRC preferred shares, according to a Form 8-K filing on Monday. Strategy sold 3.458 million shares of its Class A common stock, MSTR, last week, generating $333.7 million in net proceeds.

Economists agree: Fed to leave interest rates unchanged this year – Reuters poll

A large majority of economists expect the Federal Reserve (Fed) to keep interest rates unchanged in September and for the rest of this year, according to a Reuters poll conducted between August 12 and 17.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.