Pound Sterling Price News and Forecast: GBP/USD holds steady near 1.3465 early European session

FXStreet Team FXStreet

GBP/USD flat lines above 1.3450 as traders eye US jobs data

The GBP/USD pair trades on a flat note around 1.3465 during the early European trading hours on Thursday. Markets turn cautious as traders await the upcoming key US economic data this week. The weekly US Initial Jobless Claims report is due later in the day ahead of the highly anticipated Nonfarm Payrolls (NFP) reading.

The US jobs data for December will be in the spotlight on Friday, as it might offer cues about the interest rate path. The US NFP is expected to rise by 60,000 in December. Meanwhile, the Unemployment Rate is estimated to tick lower to 4.5% in December from 4.6% in November. If the reports show stronger-than-expected outcomes, this could weigh on expectations for further US Federal Reserve (Fed) easing, which might lift the Greenback against the Pound Sterling (GBP). Read more...

GBP/USD consolidates above mid-1.3400s; bullish potential seems intact

The GBP/USD pair is seen consolidating its heavy losses registered over the past two days and oscillating in a narrow trading band, just above mid-1.3400s during the Asian session on Thursday. However, the fundamental backdrop warrants some caution for bearish traders and before positioning for an extension of the retracement slide from the 1.3565-1.3570 region, or the highest level since September 18, touched on Tuesday.

A slight deterioration in the global risk sentiment offsets Wednesday's mixed US economic releases and assists the safe-haven US Dollar (USD) to preserve its weekly gains, which, in turn, caps the GBP/USD pair. In fact, the Institute for Supply Management reported that the business activity in the US services sector unexpectedly picked up in December and its Non-Manufacturing Purchasing Managers' Index (PMI) increased to 54.4 from 52.6 in November. Separately, the ADP's national employment report showed that private payrolls rebounded less than expected in December. Read more...

GBP/USD stalls near 1.3500 as strong US data, risk-off mood bite

The Pound Sterling (GBP) is down 0.10% on Wednesday against the US Dollar (USD) amid a scarce economic docket in the United Kingdom (UK) and following a good employment report in the United States. At the time of writing, GBP/USD trades at 1.3486 after hitting a daily high of 1.3516.

Market mood is mildly risk-off as the CBOE Volatility Index (VIX) shows traders are buying insurance against a reversal in US equities, with VIX posting nearly 2% gains. Read more...

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FXStreet

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