Pound Sterling Price News and Forecast: GBP/USD flat lines near 1.3575 on Thursday

FXStreet Team FXStreet

GBP/USD holds steady above 1.3550 as investors await UK GDP, US PPI releases

The GBP/USD pair trades on a flat note around 1.3575 during the Asian trading hours on Thursday. Traders prefer to wait on the sidelines ahead of the key data from both the United Kingdom (UK) and the United States (US). The preliminary reading of UK Gross Domestic Product (GDP) for the second quarter (Q2) will be published later on Thursday, followed by US Producer Price Index (PPI) data for July.

Signs of cooling in the US labor market have pushed futures to bake in a series of rate reductions before the end of the year. This, in turn, might drag the Greenback lower against the GBP. Fed funds futures traders are now pricing in nearly a 94% probability of a 25 basis point (bps) cut at the September meeting, up from an 85% chance before the inflation data release, according to the CME FedWatch tool. Read more...

GBP/USD continues to climb ahead of another key double-header data dump

GBP/USD gained even more ground on Wednesday, climbing nearly six-tenths of one percent as US Dollar (USD) flows continues to wither. The Pound Sterling (GBP) is enjoying a much-needed bullish shift in fundamentals as United Kingdom (UK) economic data outpaces new soft spots appearing in key economic figures from the United States (US).

GBP/USD is extending one-sided bullish momentum north of the 50-day Exponential Moving Average (EMA), climbing into 1.3600 after closing flat or higher for all but one of the last nine trading sessions. Cable has risen over 3.35% bottom-to-top after finding a technical floor near the 200-day EMA near 1.3150, but could be poised to run out of bullish momentum near the last swing high. Read more...

GBP/USD rallies as Fed cut bets soar despite hot core CPI

The GBP/USD pair advances during the North American session, up by 0.56% as the US Dollar (USD) gets battered amid increasing bets that the Federal Reserve (Fed) might resume its easing cycle as soon as September. The pair trades at 1.3572 after bouncing off lows of 1.3487.

The latest inflation report in the United States (US) revealed that headline inflation was unchanged in July at 2.7% YoY from June’s print. Excluding volatile items, prices jumped above the 3% threshold to 3.1% YoY, though market participants mainly ignored it. After the data, Fed interest rate probabilities show that market players had priced in a 97.85% chance of a cut at the upcoming meeting. Read more...

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

AUD/USD falls to near 0.7100 after slipping below 50-day EMA

AUD/USD depreciates after registering minor gains in the previous day, trading around 0.7120 during the Asian hours. The technical analysis of the daily chart shows the pair consolidating sideways within a rectangle pattern, as neither bulls nor bears gain control. The AUD/USD pair is holding a slight bearish tone however as it sits beneath both the nine-day and 50-day EMAs.

160.00: USD/JPY back near intervention territory after upbeat US jobs report

US Nonfarm Payrolls beat expectations by a wide margin in May, with 172K jobs added. The US Dollar rebounds after the release, helping USD/JPY recover from its intraday lows. Warnings from Japanese authorities continue to limit upside potential near the 160.00 threshold.

Gold targets $4,300 amid stronger Dollar

Gold faces increasing selling interest and navigates the area of three-month lows near the $4,300 mark per troy ounce on Friday. The precious metal’s decline comes as traders assess the stronger-than-expected NFP, while the bid bias in the Greenback and higher US Treasury yields also collaborate with the retracement.

Cardano hits five-year low even as Hoskinson clarifies "break" isn't an exit

Cardano (ADA) price is down 10% at press time on Friday, extending losses over 30% so far this week amid Charles Hoskinson's clarification that "break" isn't an exit.

Week ahead – Fed countdown begins amid US inflation data and geopolitical risks

Fed Chair Warsh’s first meeting approaches as key US inflation data could reshape expectations. Oil prices remain elevated as US-Iran talks continue; tariffs also return to the spotlight. ECB is expected to hike; will it be a one-off move or is July live?

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.