Pound Sterling Price News and Forecast: GBP/USD holds near 1.3550 as soft US PPI boosts Fed cut bets

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GBP/USD holds near 1.3550 as soft US PPI boosts Fed cut bets

The GBP/USD hoovers around the 1.3550 figure for the third straight day after the latest inflation report in the United States (US) showed that prices paid by producers dipped in August, increasing the chances for an interest rate cut by the Federal Reserve. Read More...

Pound Sterling wobbles against US Dollar, investors await US PPI data

The Pound Sterling (GBP) trades higher against its major currency peers, except antipodeans, on Wednesday. The British currency demonstrates strength as the market sentiment remains upbeat amid firm expectations that the Federal Reserve (Fed) will cut interest rates next week. Read More...

GBP/USD Price Forecast: Crucial upside barrier emerges near 1.3600, traders await US PPI release

The GBP/USD pair trades on a stronger note around 1.3540 during the early European session on Wednesday. Traders ramp up their bets that the US Federal Reserve (Fed) will lower the borrowing costs at its September 16-17 policy meeting, which weighs on the US Dollar (USD) against the Cable. Traders await the US August Producer Price Index (PPI) data later on Wednesday, as it could help define the size and scope of interest rate cuts from the US central bank for next week and beyond. Read More...

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GBP/USD revisits 1.3530; Dollar pushes harder

GBP/USD adds to the weekly correction and recedes toward the 1.3530 zone on Friday. Indeed, Cable faces increasing selling pressure on the back of extra gains in the Greenback, particularly fuelled by Chair Warsh’s speech at the Jackson Hole Symposium and the US NFP Annual Revision (-79K).

EUR/USD breaches below 1.1600, multi-day lows

EUR/USD now accelerates its decline and retreats to seven-day troughs in the sub-1.1600 region at the end of the week. The pair’s pullback comes on the back of the strong rebound in the US Dollar after Chair Warsh delivered a hawkish message in Jackson Hole, while the US NFP Annual Revision came in at -79K.

Gold challenges its 200-day SMA near $4,530

Gold’s decline gathers fresh steam, hitting weekly lows while disputing its critical 200-day SMA near $4,530 per troy ounce. The yellow metal’s increasing weakness comes in response to the generalised upbeat tone in the US Dollar and the widespread rebound in US Treasury yields, as investors continue to reprice a Fed rate hike in September.

Week ahead: RBNZ and BoC decide on rates ahead of all-important US NFP

The US dollar staged a modest recovery this week, perhaps as traders decided to cover some of their short positions amid slightly stickier or in-line US PCE inflation numbers for July, confounding expectations of softer prints amid the softness revealed in the CPI data for the month.

CFTC Report: CAD short covering leads; Gold buying surges

The week in one sentence: speculative positioning shifted more constructively in the week to August 25. CAD short covering led the move, followed by a broad reduction in EUR shorts and renewed Gold buying. GBP and VIX positioning also improved, while JPY positioning deteriorated and WTI flows diverged from weaker prices.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.