Pound Sterling Price News and Forecast: GBP tracks broader tone in the USD

FXStreet Team FXStreet

GBP tracks broader tone in the USD – Scotiabank

The Pound Sterling (GBP) is trading up a modest 0.2% vs. the USD and is a midperformer vs. the G10, Scotiabank's Chief FX Strategist Shaun Osborne notes.

"Relief on trade is offering support via sentiment in the absence of UK data, as market participants consider the positive shift in the US administration’s tone on tariffs and assess the implications for the broader European economic outlook." Read more...

Pound Sterling gains against US Dollar despite Trump tariff fears ease

The Pound Sterling (GBP) rises to near 1.2950 against the US Dollar (USD) in European trading hours on Tuesday. The GBP/USD pair gains as the US Dollar struggles to hold onto Monday’s gains that were driven by strong preliminary United States (US) S&P Global Purchasing Managers Index (PMI) data for March and optimism that tariffs to be unveiled by President Donald Trump on April 2 would be narrower in scope than initially feared.

The S&P Global reported on Monday that the Service PMI, which accounts for activities in the services sector, came in at 54.3, significantly higher than estimates of 51.2 and the 51.0 reading seen in February. Given that the services sector roughly accounts for two-thirds of the US economy, upbeat data indicates a strong business outlook. The report also showed that the increase in prices paid by employers for business inputs was the highest in nearly two years, prompting expectations of higher inflation in the near term. Read more...

GBP/USD Forecast: Sellers could take action if 1.2870 support fails

GBP/USD holds steady slightly above 1.2900 in the European session on Tuesday. The pair's technical outlook highlights that the bearish bias remains intact, albeit lacking momentum.

GBP/USD started the week on a bullish note and climbed above 1.2970 before losing its traction in the American session, as the US Dollar (USD) benefited from the upbeat data. S&P Global Composite Purchasing Managers Index (PMI) rose to 53.5 in March's flash estimate from 51.6 in February, highlighting an ongoing expansion in the private sector's business activity at an accelerating pace. Read more...

Author

FXStreet Team

FXStreet

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD struggles for direction amid USD gains

EUR/USD is trimming part of its earlier gains, coming under some mild downside pressure near 1.1730 as the US Dollar edges higher. Markets are still digesting the Fed’s latest rate decision, while also looking ahead to more commentary from Fed officials in the sessions ahead.

GBP/USD drops to daily lows near 1.3360

Disappointing UK data weighed on the Sterling towards the end of the week, triggering a pullback in GBP/USD to fresh daily lows near 1.3360. Looking ahead, the next key event across the Channel is the BoE meeting on December 18.

Gold losses momentum, challenges $4,300

Gold now gives away some gains and disputes the key $4,300 zone per troy ounce following earlier multi-week highs. The move is being driven by expectations that the Fed will deliver further rate cuts next year, with the yellow metal climbing despite a firmer Greenback and rising US Treasury yields across the board.

Litecoin Price Forecast: LTC struggles to extend gains, bullish bets at risk

Litecoin (LTC) price steadies above $80 at press time on Friday, following a reversal from the $87 resistance level on Wednesday. Derivatives data suggests a bullish positional buildup while the LTC futures Open Interest declines, flashing a long squeeze risk.

Big week ends with big doubts

The S&P 500 continued to push higher yesterday as the US 2-year yield wavered around the 3.50% mark following a Federal Reserve (Fed) rate cut earlier this week that was ultimately perceived as not that hawkish after all. The cut is especially boosting the non-tech pockets of the market.

Aave Price Forecast: AAVE primed for breakout as bullish signals strengthen

Aave (AAVE) price is trading above $204 at the time of writing on Friday and approaching the upper boundary of its descending parallel channel; a breakout from this structure would favor the bulls.