Pound Sterling Price News and Forecast: GBP/USD gains on steady UK PMI growth, Fed-BoE policy in spotlight

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Pound Sterling gains on steady UK PMI growth, Fed-BoE policy in spotlight

The Pound Sterling (GBP) jumps sharply to near 1.2670 against the US Dollar (USD) in Monday’s North American session after the release of the flash United Kingdom (UK) S&P Global/ CIPS Purchasing Managers’ Index (PMI) data. The PMI report showed that the overall business activity expanded at a steady pace to 50.5. The impact of a surprise faster-than-expected decline in the manufacturing sector activity was offset by a robust expansion in the service sector output. Read More...

GBP/USD Price Forecast: Hovers below 1.2650, descending channel’s upper boundary

GBP/USD breaks its three-day losing streak, trading around 1.2640 during the early European hours on Monday. The daily chart analysis shows an ongoing bearish bias as the pair is confined within the descending channel pattern. Read More...

GBP/USD edges higher to 1.2630, looks to UK/US PMIs for some impetus

The GBP/USD pair ticks higher at the start of a busy week and for now, seems to have snapped a three-day losing streak to the 1.2600 neighborhood, or over a two-week low touched on Friday. Spot prices currency trade around the 1.2630-1.2635 region, up 0.10% for the day, though any meaningful appreciation seems elusive ahead of this week's key central bank event risks. Read More...

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GBP/USD treads water around 1.3400 as Hormuz risks lift USD

GBP/USD trades with caution around 1.3400 in European trading on Monday, away from an over three-week high, or levels just above the 1.3500 psychological mark touched on Friday. The pair faces headwinds from a modest US Dollar rebound as investors rush to safety amid renewed jitters on the reopening of the Strait of Hormuz and US-Iran talks.

EUR/USD consolidates near 1.1550 amid Mideast tensions

EUR/USD keeps its range near 1.1550 in the European session on Monday, holding the retreat from fresh highs since June 17, touched in reaction to the disappointing US jobs data on Friday. Renewed Middle East tensions lend support to the safe-haven US Dollar, capping the pair's upside attempts amid improved Eurozone sentiment data.

Gold holds gains near $4,350; remains below June 17 high

Gold reverses a modest intraday dip, and climbs to the top boundary of its daily range, closer to the $4,350 level in the European session. The commodity, however, remains below its highest level since June 17, touched on Friday, following the release of the US Nonfarm Payrolls report.

Pi Network: Mild bearish bias caps PI corrective rebound

Pi Network extends losses Monday after a bearish close the previous day, as price remains capped below the $0.1000 psychological threshold. Speculative demand for PI is low, with Open Interest holding above $9 million as broader market sentiment improves. The technical outlook for PI indicates a mild bearish bias as the $0.0961 resistance level remains intact.

US Payrolls miss – RBA on deck tomorrow

It would be remiss of me not to kick off this morning’s report with a rundown of last Friday’s US jobs report, which was a belter. Headline payrolls fell by 23,000, versus expectations of an 80,000 gain. The BLS noted that May was revised down by 66,000 (from 129,000) and June by 37,000 (from 57,000), resulting in combined May-June revisions of 103,000 lower than previous reports.

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.