Pound Sterling Price News and Forecast: GBP climbs above 1.3500 after weak US NFP data

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British Pound climbs above 1.3500 after weak US NFP data

The British Pound (GBP) strengthens against the US Dollar (USD) on Friday after a disappointing US Nonfarm Payrolls report prompts traders to scale back bets on Federal Reserve (Fed) interest-rate hikes. At the time of writing, GBP/USD trades around 1.3506, hovering near three-week highs.

The US economy lost 23K jobs in July, well below market expectations for an increase of 80K. June’s gain was also revised sharply lower to 20K from 57K. However, the Unemployment Rate unexpectedly fell to 4.1% from 4.2%. Read more...

British Pound eases below 1.3450 as markets brace for the US Nonfarm Payrolls report

The British Pound (GBP) nurses minor gains against the (USD) for the second consecutive day on Friday, with the GBP/USD retreating to levels just below 1.3450 at the time of writing. The pair, however, remains trapped within the 1.3400-1.3500 range that has been limiting price action since the beginning of August.

The US Dollar ticked up on Thursday, fuelled by a report from Financial Times, citing sources close to the US Federal Reserve (Fed), to affirm that Chairman Kevin Warsh would be open to hiking interest rates in September if upcoming inflation data shows that price pressures remain persistently high. Read more...

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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 multi-day peaks below 1.3500

GBP/USD trades with marked gains on Friday, now giving away some gains following an earlier surpass of the key 1.3500 yardstick. Indeed, Cable gathers fresh steam amid the strong offered stance in the Greenback, all after US NFP badly missed expectations in July.

EUR/USD: Post-NFP bounce falters around 1.1580

EUR/USD reverses Thursday’s decline and trades with solid gains in the 1.1560 region, or two-month peaks, on Friday. The pair’s firm performance comes in a context of a sharp correction in the US Dollar as investors continue to assess disheartening US NFP readings.

How Wall Street rigs the game [Video]

In this week’s Live from the Vault, Andrew Maguire is joined by Peter Antico and Sean Stone to discuss the Paradigm of Money - an in-depth expose of financial market corruption, from naked shorting to the two-tier system that protects Wall Street.

XRP Price Forecast: XRP nears critical $1.00 support

Ripple (XRP) remains pressured on Friday, trading around $1.03 at the time of writing. The token appears to hold this current level as support but lacks a catalyst to sustain a knee-jerk rebound toward the next key resistance at $1.10.

Is Gold about to enter its biggest bull run since 2020?

Gold has stormed back into the spotlight and its next move could leave late buyers chasing. On August 5, the yellow metal surged almost 7% – roughly $174 – to close near $4,308 an ounce, posting one of its biggest daily advances in recent history. A weaker U.S dollar, falling Treasury yields, changing Federal Reserve expectations and renewed safe-haven demand all struck at once.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.