Pound Sterling Price News and Forecast: GBP/USD breaks through 1.3415-1.3425 confluence

FXStreet Team FXStreet

When are the UK data releases and how could they affect GBP/USD?

Thursday's UK economic docket features the release of the monthly GDP print, alongside the Trade Balance and Industrial Production, all of which will be published by the Office for National Statistics (ONS) at 06:00 GMT.

The UK economy is expected to have expanded by 0.1% in February, up from a flat reading in the previous month. Meanwhile, the Manufacturing Production, which makes up around 80% of total Industrial Production, is anticipated to show a 0.3% MoM rise, up from a modest of 0.1% increase in January. Meanwhile, the total Industrial Production seems to be coming in at 0.0% MoM in February as compared to the previous reading of -0.1%. Read more...

Pound Sterling receives support as Middle East tensions ease

GBP/USD has rebounded from the modest losses recorded in the previous day, hovering near 1.3570 during Asian trading hours on Thursday. The pair advances as market sentiment improves, driven by expectations of a potential de-escalation in the Middle East conflict.

US President Donald Trump stated that the war was “close to over.” Reports, including those from Bloomberg, indicated speculation about a possible two-week extension of a ceasefire, although Trump dismissed the necessity of such a move, citing ongoing negotiations aimed at ending the conflict. Nevertheless, uncertainty remains after Washington revealed plans to deploy an additional 10,000 troops to the region. Read more...

GBP/USD holds near 1.3570 as Iran talk optimism cools

The GBP/USD pair halts its advance on Wednesday and remains steady around 1.3570 as optimism about a resumption of US-Iran talks has tempered. At the same time, US equities extended their gains, and the Greenback seems to have bottomed after hitting a six-week low.

Sentiment remains positive, a headwind for the safe-haven appeal of the US Dollar (USD). News that the US-Iran ceasefire could extend for another couple of weeks was cheered by Wall Street, while US President Donald Trump said the war with Iran is near the end, adding that “amazing two days” lie ahead, hinting that both parties could be close to an agreement. Read more...

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GBP/USD flirts with tops near 1.3470

GBP/USD manages to regain composure and challenge the area of daily highs around 1.3470 on Friday. Cable picks up pace despite marginal gains in the Greenback in a context of swelling geopolitical tensions and rising global oil prices.

Gold remains below $4,100 despite receding Fed hike bets, weak USD

Gold opens with a bullish gap at the start of a new week amid receding Fed rate-hike expectations and a bearish US Dollar. Oil prices tumbled after Trump canceled an attack on Iran and said that a deal is near, easing inflation fears. This forces traders to dial back bets on extreme Fed tightening and drags the USD to a fresh low since June 17, which, in turn, is supporting the non-yielding bullion. However, the recent repeated failures to find acceptance above $4,100 warrant caution for XAU/USD bulls.

Gold's struggle with 21-day SMA extends ahead of US-Iran talks

Gold keeps its range around $4,050 early Monday, consolidating the previous decline. The US Dollar holds losses, fuelled by the USD/JPY slump and Mideast diplomacy hopes. Gold awaits a clear directional breakthrough, but sellers likely have the upper hand on the 1D chart.

Week ahead: US payrolls report and AI earnings to keep investors on edge

After the Fed decision, NFP report awaited for more rate hike clues. Employment also on the agenda in Canada and New Zealand. Chinese trade and Japanese wage data to be watched too. But Iran and AI headlines to remain in driver’s seat for risk sentiment.

Bitcoin dips, Ethereum consolidates, XRP stalls

Bitcoin, Ethereum and Ripple steadied on Monday after falling over 2.8%, 3.55% and 2.35%, respectively, the previous week. BTC trades below the key resistance level, ETH consolidates between the 50-day and 100-day Exponential Moving Averages.

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.