Pound Sterling Price News and Forecast: GBP/USD holds ground ahead of PMI data releases

FXStreet Team FXStreet

GBP/USD trades below 1.2950 near 10-week lows, PMI figures awaited

The GBP/USD pair trades around 1.2930 during the Asian session on Thursday, staying near its 10-week low of 1.2907 reached on Wednesday. Traders are likely to focus on the Purchasing Managers Index (PMI) figures from both the United Kingdom (UK) and the United States (US), which are scheduled for release during the day.

During a discussion at the Institute of International Finance's annual membership meeting in Washington, D.C., on Wednesday, Bank of England Governor Andrew Bailey stated that inflation is currently below target due to annual base effects. Bailey noted that the high savings rate indicates consumer caution and added that pension funds should not be required to make compulsory allocations to UK assets. Read more...

GBP/USD skids into new ten-week low ahead of global PMI prints

GBP/USD shed another half of a percent on Wednesday, tipping into a fresh ten-week low and grinding down toward the 1.2900 handle. Purchasing Managers Index (PMI) figures from both the UK and the US are due on a rolling schedule throughout Thursday, and investors will be keeping an eye out for a slew of central banker appearances from both the Bank of England (BoE) and the Federal Reserve (Fed).

The Pound Sterling swooned on Wednesday, declining further as GBP markets buckle under the weight of a broad-market Greenback recovery and investors brace for an overall decline in UK PMI prints for October. Read more...

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GBP/USD weakens below 1.3250 on UK political risks, BoE repricing

The GBP/USD pair trades in negative territory around 1.3245 during the early Asian trading hours on Wednesday. Traders await the UK political developments, focusing on potential leadership by Andy Burnham and adherence to existing fiscal rules. Bank of England Governor Andrew Bailey is set to speak later in the day. On Thursday, all eyes will be on the US jobs data for June.

EUR/USD declines to near 1.1400 as softer German inflation undercuts ECB hike bets

The EUR/USD pair loses momentum to near 1.1410 during the early Asian trading hours on Wednesday, pressured by receding bets for aggressive tightening by the European Central Bank (ECB). Traders will take more cues from the preliminary reading of the Harmonized Index of Consumer Prices from the Eurozone and US Manufacturing Purchasing Managers Index report, which are due later in the day.

Gold falls back below $4,000 amid a bullish USD

Gold drops back below $4,000 following the previous day's two-way price swings as the US Dollar stands firm amid safe-haven demand, bolstered by uncertainty surrounding US-Iran talks. Meanwhile, Tuesday's strong labor market data reaffirmed bets for a Fed rate hike in 2026, adding to the Greenback's strength at the expense of the bullion.

The quarter ended bright green, but the market changed horses several times

Lower oil may support demand more than it lowers inflation, which keeps the Fed, front-end yields and the $ firmly in the driver’s seat. The S&P 500 has just delivered its best quarter in six years, the Nasdaq has found its stride again, and semiconductors have posted their strongest quarter on record.

Why a hawkish Bank of Japan could trigger the next Bitcoin sell-off

The Japanese Yen hits a 40-year low of 162.00 against the US Dollar, raising concerns about intervention or additional rate hikes by the Bank of Japan. BoJ may sell US Treasuries to buy back Yen, potentially pushing US bond yields higher and making Bitcoin less attractive to investors.

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The ECB Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Fed, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.