Pound Sterling Price News and Forecast: GBP/USD holds firm as political stability offsets UK growth miss

FXStreet Team FXStreet

British Pound holds firm as political stability offsets UK growth miss

The Pound Sterling advances 0.11% on Tuesday, even though UK data showed the economy is slowing, while the latest US jobs report showed that the number of vacancies rose in May, according to the US Bureau of Labour Statistics. The GBP/USD trades at 1.3270. Read More...

British Pound holds below 1.3250 after a downward revision of UK GDP

The British Pound (GBP) is giving away previous gains against the US Dollar (USD) on Tuesday, weighed by the downward revision of the UK’s Q1 Gross Domestic Product (GDP) data. The GBP/USD pair is trading just above session highs at 1.3222 at the time of writing after failing to break above the top of last week’s trading range, at the 1.3270 area. Read More...

British Pound drifts lower below 1.3250 on steady BoE rate path, traders await US jobs data

The GBP/USD pair loses traction to around 1.3240 during the Asian trading hours on Tuesday. A potential rate hike from the US Federal Reserve (Fed) provides some support to the US Dollar (USD) against the British Pound (GBP). The US ADP employment data and the US Nonfarm Payrolls (NFP) data will take center stage later this week. Read More...

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GBP/USD hits multi-week tops around 1.3560

GBP/USD gathers fresh steam and advances to new three-month peaks near the 1.3560 zone on Friday. Cable’s sharp move higher comes after three daily drops in a row and follows the increasing selling pressure hurting the Greenback.

EUR/USD pops to fresh two-month highs, targets 1.1600

EUR/USD advances markedly, revisiting the upper 1.1500s for the first time since mid-June. The pair’s sharp uptick comes on the back of a strong retracement in the US Dollar amid BoJ intervention chatter and despite steady uncertainty in the Middle East.

Gold picks up pace, approaches $4,400

Gold rebounds toward the $4,400 mark per troy ounce on Friday, reversing the previous day’s pullback. The precious metal’s recovery comes as fresh and intense weakness keep weighing on the US Dollar, while traders keep assessing easing expectations of an imminent Fed interest rate hike and the situation from the Middle East.

Pi Network Price Forecast: PI extends consolidation as bulls eye $0.10

Pi Network (PI) price holds steady on Friday, maintaining a consolidating tone for three consecutive days. Mild retail strength in the PI token remains stable, with Open Interest above $9 million, while social buzz eases. PI token’s technical outlook is mixed, as bearish momentum wanes to neutral, with bulls eyeing the $0.1000 psychological level.

Weekly focus: Some relief in US inflation concerns

Actual inflation data for July came out as expected with a 0.1% m/m increase in headline CPI and 0.2% excluding food and energy. Annual headline inflation remains too high at 3.4% and means that wage earners are experiencing stagnating spending power at best, and core inflation is a bit higher than the inflation target of two percent would suggest.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.