GBP/USD dips on sour sentiment, soft UK retail sales
GBP/USD retreats from daily highs and losses for the second day in the week but remains set to finish the week on a higher note. Retail Sales in the United Kingdom (UK) were softer, but most data supports the Bank of England’s (BoE) case for a rate hike at its upcoming meeting. The GBP/USD is trading at 1.2740 after hitting a daily high of 1.2766. Read More....
GBP/USD Price Analysis: Stuck in a range around mid-1.2700s, 23.6% Fibo. level
The GBP/USD pair struggles to gain any meaningful traction on Friday and oscillates in a narrow range below a one-week high, around the 1.2785 region touched the previous day. Spot prices currently trade around mid-1.2700s, nearly unchanged for the day and holding steady around the 23.6% Fibonacci retracement level of the recent downfall from a 15-month peak touched in July. Read More...
-638279306430313430.png)
GBP/USD gains ground above the 1.2760 area, investors await UK Retail Sales
The GBP/USD pair gains momentum and surges above mid-1.2750s during the early Asian session on Friday. The major pair currently trades near 1.2761, up 0.11% for the day. The strengthening of the Pound Sterling is bolstered by the inflation report and the probability of further interest rates by the Bank of England (BoE). Read More...
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
NZD/USD consolidates gains near 0.6200 after RBNZ's hawkish pause, Orr
NZD/USD is consolidating sizeable gains near 0.6200, having spiked to a fresh three-month peak of 0.6209 after the RBNZ left its cash rate unchanged at 5.5% but left the door ajar to further interest rate hikes. RBNZ Governor Orr addresses the press conference.
AUD/USD hovers above a major level despite softer monthly CPI
The AUD/USD trades higher around the 0.6670 level, extending its gains for the fifth consecutive day on Wednesday. This surge is attributed to a heightened risk appetite in the market and the upward movement in commodity prices. Additionally, the softer US Dollar, influenced is providing support to the pair.
Gold rally extends into $2,040 as Fedspeak sparks Fed pivot bets
Gold price climbed on Tuesday in their best single-day performance in over six weeks, climbing 1.5% on the day and settling at a seven-month peak of $2,044. Markets saw a risk rally as investor sentiment bid up assets across the board, sparked by Dovish Fed comments that sent Gold climbing on the day.
THORChain price climbs 15% as native RUNE secures self-custody wallet integration
THORChain price is pumping hard, recording a 15% addition to its market value on the day, alongside a 50% rise in trading volume. When price and trading volume rise in tandem, it often points to the asset gaining attention and therefore interest among buyers.
Global growth outlook remains cloudy and grey
Prospects for the global economy have dimmed slightly over the past month, with restrictive monetary policy set to weigh on growth prospects for next year. The forecast for global GDP growth in 2023 remains unchanged at 2.8%, while the forecast for 2024 global GDP growth has been revised slightly lower to 2.3%.