Pound Sterling Price News and Forecast: GBP/USD clings to bullish stance

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GBP/USD Forecast: Pound Sterling clings to bullish stance

GBP/USD preserves its bullish momentum in the European session and trades near 1.3500 following four consecutive days of gains. The pair's near-term technical outlook suggests that the bullish bias remains intact, while markets remain focused on political developments in the US.

The selling pressure surrounding the US Dollar (USD) persisted midweek as markets reacted to the uncertainty created by the shutdown of the federal government. Following a second round of voting on Wednesday, lawmakers failed to come to terms on restoring the government funding. Read more...

The Pound faces challenges: Weak data and external pressures mount

The GBP/USD pair is trading near 1.3445 on Wednesday, with the pound closing September with its first monthly decline against the US dollar since July.

Short-term price action remains under pressure from the looming US government shutdown, which threatens to delay the release of key US macroeconomic data, injecting uncertainty into the market. Read more...

GBP/USD Forecast: Pound Sterling looks to build on weekly gains

GBP/USD continues to stretch higher and trades above 1.3470 in the European session on Wednesday, after posting modest gains on Monday and Tuesday. The pair's technical outlook highlights a bullish stance as market participants keep a close eye on US politics.

The broad-based selling pressure surrounding the US Dollar (USD) helps GBP/USD extend its weekly uptrend. During the Asian trading hours, the USD weakened against its rivals as the US federal government has officially shutdown after Republicans and Democrats failed to come to terms on accepting a funding bill. Read more...

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GBP/USD revisits 1.3530; Dollar pushes harder

GBP/USD adds to the weekly correction and recedes toward the 1.3530 zone on Friday. Indeed, Cable faces increasing selling pressure on the back of extra gains in the Greenback, particularly fuelled by Chair Warsh’s speech at the Jackson Hole Symposium and the US NFP Annual Revision (-79K).

EUR/USD breaches below 1.1600, multi-day lows

EUR/USD now accelerates its decline and retreats to seven-day troughs in the sub-1.1600 region at the end of the week. The pair’s pullback comes on the back of the strong rebound in the US Dollar after Chair Warsh delivered a hawkish message in Jackson Hole, while the US NFP Annual Revision came in at -79K.

Gold seems vulnerable above $4,450 as Fed hike bets, Iran risks support USD

Gold recovers slightly from a one-and-a-half-week low, touched during the Asian session on Monday, though any meaningful recovery seems elusive. Fed Chair Kevin Warsh’s Jackson Hole speech was perceived as hawkish, raising expectations for a September rate hike. Adding to this, fresh US strikes on Iran keep the geopolitical risk premium in play, which acts as a tailwind for the safe-haven US Dollar and should cap the bullion.

Week ahead: RBNZ and BoC decide on rates ahead of all-important US NFP

The US dollar staged a modest recovery this week, perhaps as traders decided to cover some of their short positions amid slightly stickier or in-line US PCE inflation numbers for July, confounding expectations of softer prints amid the softness revealed in the CPI data for the month.

CFTC Report: CAD short covering leads; Gold buying surges

The week in one sentence: speculative positioning shifted more constructively in the week to August 25. CAD short covering led the move, followed by a broad reduction in EUR shorts and renewed Gold buying. GBP and VIX positioning also improved, while JPY positioning deteriorated and WTI flows diverged from weaker prices.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.