Pound Sterling Price News and Forecast: GBP recovers early losses against US Dollar

FXStreet Team FXStreet

British Pound recovers early losses against US Dollar, US PPI data eyed

The British Pound (GBP) claws back its early losses against the US Dollar (USD) and flattens at around 1.3495 during the European trading session on Thursday. The GBP/USD pair bounces back as the US Dollar (USD) comes under pressure with investors prioritizing easing fears of the Federal Reserve’s (Fed) interest rate hikes in the near term over ongoing Middle East tensions.

At press time, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades 0.1% lower to near 99.90. Read more...

British Pound drifts away from 1.3500 as UK GDP slows down and Industrial Production falls

The British Pound (GBP) treads water against the US Dollar (USD), trading practically flat, a few pips below the 1.3500 level on Thursday's early London session. A rather positive UK Gross Domestic Product (GDP) report has been offset by downbeat factory output figures, while the US Dollar keeps wavering within range, as Federal Reserve (Fed) monetary tightening expectations shrink.

Data released by the UK National Statistics Office revealed that the country's economy grew at a steady 0.4% pace in the second quarter, as expected, showing a moderate slowdown from the 0.6% growth seen in the previous quarter, while the monthly GDP accelerated 0.3% in June, against expectations of a steady 0% reading. Read more...

GBP/USD Price Forecast: Trades below 1.3500 on firmer USD, ahead of UK GDP

The GBP/USD pair trades with a negative bias for the second consecutive day and trades below the 1.3500 psychological mark during the Asian session on Thursday amid modest US Dollar (USD) strength. The downside potential, however, seems limited as traders might opt to wait for the UK macro data dump, including the Q2 GDP report, before placing directional bets.

In the meantime, inflation risks stemming from volatile oil prices underpin prospects for a rate hike by the US Federal Reserve (Fed). This, along with persistent geopolitical uncertainties due to the US-Iran standoff, assists the USD in building on the previous day's bounce from the post-CPI swing low and turns out to be a key factor acting as a headwind for the GBP/USD pair. Read more...

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FXStreet Team

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GBP/USD treads water around 1.3500

GBP/USD keeps gyrating around the 1.3500 region amid humble gains on Thursday. In the meantime, Cable’s irresolute price action comes as investors continue to assess mixed UK data, poor US results as well as the persistent uncertainty surrounding the US-Iran conflict.

EUR/USD picks up pace; revisits 1.1530

EUR/USD trades with decent gains above the 1.1500 yardstick on Thursday. Persistent uncertainty in the Middle East fuels risk aversion, limiting the US Dollar’s downside potential. Earlier in the day, both US Producer Prices and weekly Claims missed market consensus, adding to the buck’s soft tone.

Gold meets resistance around $4,450

Gold extends its intraday pullback on Thursday, retesting the $4,370 zone per troy ounce and fading Wednesday’s uptick. Meanwhile, the precious metal continues to monitor developments from the Middle East as well as bets surrounding the potential Fed’s rate path.

Crypto Today: Bitcoin, Ethereum, XRP remain sluggish amid mixed ETF flows

The cryptocurrency market continues to trade sideways on Thursday, with Bitcoin struggling to reclaim the $64,000 level. Ethereum is attempting to build momentum near the key $1,900 resistance, while Ripple maintains support above $1.00, yet upward movement remains limited.

Week ahead – Summer lull could be tested by geopolitics and central bank expectations

US dollar stabilizes as September Fed hike bets remain subdued. Market volatility stays low, but thin liquidity could amplify movements. Key UK data could challenge pound strength; euro craves bullish catalysts.

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.