Pound Sterling Price News and Forecast: GBP/USD bears move in for the kill, testing key support structure

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GBP/USD Price Analysis: Bears move in for the kill, testing key support structure

GBP/USD followed EUR/USD lower on strong US data and the European Central Babk's dovish 25bp hike. The pair dropped from 1.2995 to a low of 1.2781 while the markets reduce more hawkish Bank of England rate expectations for the August 3 interest rate meeting. This leaves the technical structure complicated and two-fold for Cable as the following illustrates. Read more...

Pound Sterling enters bearish passage as recession woes elevate

The Pound Sterling (GBP) turns weak amid deepening fears of a recession in the United Kingdom economy corner aggressive policy tightening by the Bank of England (BoE). Earlier, the GBP/USD pair faced pressure but overall sentiment for Pound Sterling is bullish as more interest-rate hikes from the UK central bank cannot be ruled out in order to bring inflation back to target. United Kingdom’s Treasury Advisers showed concerns about economic growth due to the aggressive policy tightening by the central bank, which has elevated the burden on firms. Moreover, the UK’s housing sector is facing the wrath of higher borrowing costs and demand for property from first-time home buyers has dropped sharply. Read more...

GBP/USD Forecast: Pound Sterling could extend uptrend on a weak US GDP reading

GBP/USD gathered bullish momentum and advanced to a weekly high near 1.3000 during the European trading hours on Thursday. The risk-positive market atmosphere provides an additional boost to the pair ahead of the Gross Domestic Product (GDP) data releases from the US.

The US Dollar (USD) stays under persistent selling pressure as markets see a strong chance that the Federal Reserve may have reached its terminal rate with a 25 basis points rate hike on Wednesday. FOMC Chairman Jerome Powell's hesitancy to confirm the need for additional rate increases and his acknowledgement of policy being restrictive in the post-meeting press conference triggered a USD selloff late Wednesday. In the European session, S&P 500 Futures and Nasdaq Futures are up 0.6% and 1.2%, respectively, highlighting the upbeat market mood. Read more...

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GBP/USD clings to 1.3500 amid marginal losses

GBP/USD alternates gains with losses around the 1.3500 neighbourhood on Tuesday. Indeed, Cable struggles to further extend its incipient recovery in a context of continuous instability in the Middle East and modest gains in the Greenback.

EUR/USD alternates gains with losses near 1.1540

EUR/USD navigates a tight range near 1.1550 in the latter part of Tuesday’s NA session. The US Dollar’s vacillating price action accompanies the pair while market participants gear up for the crucial US inflation data due on Wednesday.

Gold loses the grip below $4,400

Gold retreats from its earlier tops and briefly revisited the $4,350 region per troy ounce on Tuesday. The yellow metal’s modest retracement follows lacklustre gains in the US Dollar and declining US Treasury yields across the curve, all amid steady uncertainty from the geopolitical landscape.

Shiba Inu Price Forecast: SHIB extends sell-off despite surging futures Open Interest

Shiba Inu (SHIB) maintains a bearish outlook on Tuesday, as it edges lower at $0.00000450. This marks the seventh day the meme coin has sustained a sell-off, weighed down by a weak technical structure. Shiba Inu derivatives continue to gain momentum, with perpetual futures Open Interest (OI) rising to 11.08 trillion SHIB on Tuesday, from 10.46 trillion the day before.

The inflation narrative is still way more important than the employment story

Core bonds sold off yesterday with the belly of the curve slightly underperforming in the US while European curves showed more of a bear flattening. Daily changes on the US curve varied between +4.7 bps (2-yr) and +6.4 bps (7-yr).

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.