Pound Sterling Price News and Forecast: GBP strengthens on surprisngly upbeat flash UK PMI data

FXStreet Team FXStreet

Pound Sterling strengthens on surprisngly upbeat flash UK PMI data

The Pound Sterling (GBP) strengthens against its major peers on Friday as the preliminary United Kingdom (UK) S&P Global/CIPS Purchasing Managers Index (PMI) data for January has come in surprisingly stronger than expected. The agency reported that the Composite PMI expanded at a faster pace to 50.9 from 50.4 in December. Economists expected the PMI to have hardly grown, with the data coming in at 50.0. The robust growth in the Composite PMI came from strong business activity in the services as well as the manufacturing sector.

Though the overall business activity remains robust in January, analysts at S&P Global showed concerns over weakening labor demand amid falling dales and worries over business prospects. Read more...

GBP/USD Forecast: Pound Sterling shows signs of life ahead of PMI data

GBP/USD holds its ground early Friday and trades in positive territory slightly below 1.2400 after posting modest daily gains on Thursday. Market participants await preliminary January PMI reports from the UK and the US.

GBP/USD holds its ground early Friday and trades in positive territory slightly below 1.2400 after posting modest daily gains on Thursday. Market participants await preliminary January PMI reports from the UK and the US. Read more...

Author

FXStreet Team

FXStreet

EUR/USD eases to four-week lows near 1.1650

EUR/USD now loses further momentum and recedes to multi-week lows near 1.1650 on Thursday. The pair’s extra retracement comes on the back of the persistent bid tone in the US Dollar as investors continue to gear up for the release of the December NFP figures on Friday.

GBP/USD: Further weakness could challenge 1.3400

GBP/USD remains under unabated selling pressure on Thursday, slipping to fresh three-day lows around 1.3415 in response to further improvement in the sentiment surrounding the Greenback ahead of Friday’s key NFP data.

Gold bounces back to its comfort zone

Gold now manages to regain some balance, fading its earlier pullback to the proximity of the $4,400 region per troy ounce and reshifting its attention to the $4,450 zone on Thursday. The yellow metal’s move lower comes in response to a better tone in the Greenback and the generalised recovery in US Treasury yields.

Crypto Today: Bitcoin, Ethereum, XRP extend decline as ETF outflows pose headwinds

Bitcoin struggles with selling pressure as institutional investor sentiment deteriorates. Ethereum hangs onto the 50-day EMA lifeline amid growing overhead risks and the resumption of ETF outflows.

2026 economic outlook: Clear skies but don’t unfasten your seatbelts yet

Most years fade into the background as soon as a new one starts. Not 2025: a year of epochal shifts, in which the macroeconomy was the dog that did not bark. What to expect in 2026? The shocks of 2025 will not be undone, but neither will they be repeated.

XRP slides as institutional and retail demand falters

Ripple is trading down for the third consecutive day on Thursday amid escalating volatility in the cyrptocurrency market. After peaking at $2.41 on Tuesday, its highest print since November 14 amid the early-year rally, XRP has quickly ran into aggressive profit-taking.