Pound Sterling Price News and Forecast: GBP/USD gains positive traction for the fourth successive day

FXStreet Team FXStreet

GBP/USD maintains its bid tone around 1.2775-1.2780 region ahead of UK jobs data

The GBP/USD pair attracts some dip-buyers during the Asian session on Tuesday and climbs to a fresh daily peak, around the 1.2775-1.2780 region in the last hour. Spot prices, however, remain confined in the previous day's broader trading range as traders keenly await important macro data from the UK and the US before placing fresh directional bets.

The monthly UK employment report and the US Producer Price Index (PPI) will be published later today, which will be followed by the latest consumer inflation figures from the UK and the US on Wednesday. This, along with the release of the Preliminary UK Q2 GDP on Thursday, will play a key role in influencing the sentiment surrounding the British Pound (GBP) and provide a fresh directional impetus to the GBP/USD pair. Read more...

GBP/USD flattens as markets await key midweek data

GBP/USD continued to flatten out on Monday, trading in place and testing key technical levels as markets buckle down for the wait to a midweek inflation data outing. Recent volatility that saw Cable drop back to long-run averages below 1.2700 have eased into the background for now, and investors will be pivoting to face a round of key inflation prints on both sides of the Atlantic due in the midweek.

US Producer Price Index (PPI) business-level inflation figures are due on Tuesday. The forecast indicates a decrease in core PPI to 2.7% from 3.0%. On Wednesday, YoY core CPI inflation is expected to drop to 3.2% from 3.3%. Market sentiment relies on a balanced inflation outcome for equities to perform well. Read more...

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FXStreet Team

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GBP/USD stays offered near 1.3370

GBP/USD remains on the back foot, slipping back toward the 1.3370 zone on Tuesday. Cable has come under pressure soon after testing the 1.3400 neighbourhood as investors turned more cautious in response to renewed effervescence on the geopolitical front.

EUR/USD stays offered below 1.1450

EUR/USD remains on the back foot ahead of the opening bell in Asia, returning to the low-1.1400s on the back of the resurgence of the demand for the US Dollar. Indeed, renewed jitters in the Middle East support the safe haven universe and weigh on the sentiment surrounding the risk complex. Moving forward, investors’ attention should shift to Wednesday’s FOMC Minutes.

Gold weakens toward $4,100

Gold adds to Monday’s decent pullback and trades close to the $4,100 mark per troy ounce on Tuesday. In the meantime, fresh geopolitical effervescence appear to have reignited inflation concerns, which in turn, limit any recovery attempt from the precious metal.

Ondo launches Perps with 20x leverage on tokenized stocks

Ondo Finance has expanded its financial services suite to include perpetual futures contracts for tokenized stocks. The platform, referred to as Ondo Perps, will provide 24/7 trading and over 20x leverage, utilizing tokenized stocks as collateral.

Bye, forward guidance: How to trade when central banks choose silence

Central banks have spent years telling markets what might come next. Now, traders face the possibility that they say a lot less. From the Federal Reserve to the European Central Bank and the Bank of England, policymakers are pushing back against forward guidance, arguing that the current world demands more flexibility.