Pound Sterling Price News and Forecast: GBP/USD has managed to sustain its auction above 1.2100

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GBP/USD defends 1.2100 as skepticism for Fed policy escalates

The GBP/USD pair has sensed a buying interest after a corrective move to near 1.2100 in the early Asian session. The Cable is attempting to extend further above the immediate resistance of 1.2130 as investors are getting anxious for mixed views on Federal Reserve’s (Fed) monetary policy outlook, scheduled for next week.

S&P500 futures ended Thursday’s trading session on a promising note as various financial institutions came forward to provide liquidity into the US-based First Republic Bank and the Swiss National Bank (SNB) infused a new lifeline into Credit Suisse, portraying an improvement in investors’ risk appetite. The US Dollar Index (DXY) is hovering near 104.40 as investors are skeptical about the interest rate decision by the Federal Reserve (Fed), which will be announced next week. Read more...

GBP/USD Price Analysis: Bears prowl and eye a break below of 1.2050 again

GBP/USD is meeting resistance near 1.2100 while traders assess the risks associated with the banking system crisis and weigh the prospects of a hawkish Federal Reserve and the Bank of England that both meet next week to decide on their interest rate paths.

From a technical perspective, a multi-timeframe analysis arrives at a bearish bias while GBP/USD remains pressured on the front side of the dominant bear trend. Read more...

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FXStreet Team

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GBP/USD gathers strength to near 1.3300 on Burnham’s commitment to fiscal rules, NFP data loom

The GBP/USD pair gains traction to near 1.3290 during the Asian trading hours on Thursday. The British Pound strengthens against the US Dollar as the UK's likely next Prime Minister, Andy Burnham, has eased market concerns by pledging strict fiscal discipline. The US Nonfarm Payrolls data for June will take center stage later on Thursday.

EUR/USD nudges higher above 1.1350 on softer Fed stance, traders await US jobs data

The EUR/USD pair posts modest gains near 1.1380 during the early Asian session on Thursday. The US Dollar edges lower against the Euro on less hawkish remarks from Federal Reserve Chairman Kevin Warsh. Traders will closely monitor the US jobs data for June later on Thursday.

Gold holds rebound near $4,050, with all eyes on US NFP

Gold holds the rebound near $4,050 in Thursday's Asian trading, following the previous day's volatile two-way price swings. Traders now look to the crucial US NFP report for fresh impetus. In the meantime, the US Dollar retreats on profit-taking and Mideast optimism, underpinning the Gold price recovery.

Bitcoin long-term holders resume accumulation as ETF outflows keep institutional sentiment subdued — Glassnode

Long-term Bitcoin investors have begun absorbing supply despite persistent negative flows from US spot BTC exchange-traded funds, according to a report by Glassnode on Wednesday. The firm stated that long-term holders have shifted back into net accumulation after months of distribution, signaling renewed confidence as Bitcoin trades near $60,000.

A preview of NFP

The number is of much greater importance than usual as the Fed moves away from a forecasting framework and towards a current-data/rebuilding-credibility framework. While I have been pooh-poohing Warsh’s hawkish opener, I am also open to the idea that if he is serious about rebuilding credibility, he can find enough hawkish votes, and if June NFP is another hot one—July FOMC could be in play.

Just like Fed, is BoJ’s independence under threat?

When talking about central bank independence, most of the focus has been on Donald Trump’s pressure on the Federal Reserve. But a similar story, a quieter one for now, seems to be happening on the other side of the Pacific: Japan’s government may be testing the Bank of Japan’s independence.