Pound Sterling Price News and Forecast: GBP/USD pares some of Tuesday’s losses, back above 1.1560

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GBP/USD pares some of Tuesday’s losses, back above 1.1560

The GBP/USD is trimming some of Tuesday’s losses after UK’s CPI showed signs of decelerating, while the US prices paid by producers for August ticked up, particularly in core PPI, in line with Tuesday’s CPI reading. During the day, the GBP/USD hit a daily low of 1.1479. but edged higher, following the UK’s report, sending the GBP/USD above the 1.1500 figure towards its daily high at around current exchange rates. At the time of writing, the GBP/USD is trading at 1.1565, above its opening price by 0.65%. Read more...

GBP/USD Forecast: Pound could extend correction above 1.1550

GBP/USD has gathered recovery momentum and climbed toward 1.1550 after having declined below 1.1500 earlier in the day. The pair needs to clear 1.1550 in order to attract bulls. The data published by the UK's Office for National Statistics (ONS) reported on Wednesday that the annual Consumer Price Index (CPI) declined to 9.9% in August from 10.1% in July. The Core CPI, however, which excludes volatile food and energy prices, rose to 6.3% from 6.2%. Read more...

GBP/USD outlook: Cable regains traction after Tuesday's strong fall but bears still in control

Cable regained traction after a brief dip under 1.15 mark on lower than expected UK inflation data, as expectations of 0.75% BoE rate hike next week continue to dominate and underpin pound. Wednesday’s sharp drop on higher than expected US inflation (cable was down 1.7% for the day in the biggest daily loss since May) left large daily bearish candle that weighs on near-term action, with signal being supported by strong bearish momentum on daily chart. Read more...

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GBP/USD: Downward-sloping trendline near 1.3470 remains key barrier

The British pound faces selling pressure against its major currency peers, trading 0.1% lower at around 1.3420 against the US Dollar during the European trading session on Tuesday.

EUR/USD flatlines above 1.1500, awaits US jobs data

EUR/USD holds steady around 1.1505 in European trading hours on Tuesday. Markets remain cautious ahead of a slew of US jobs data, starting with the JOLTS Job Openings Survey later today. However, the downside appears capped by hot Eurozone inflation in July, bolstering the case for a European Central Bank rate hike at the next meeting.

Gold holds steady above $4,050; hawkish Fed bets favor bearish traders

Gold remains confined in a range below the $4,100 mark through the early European session as traders opt to wait for further developments surrounding the Middle East crisis. Meanwhile, the uncertainty over US-Iran peace talks continues to act as a tailwind for the safe-haven US Dollar.

Aave: Bearish RSI divergence risks a 20% drop despite steady DeFi deposits

Aave (AAVE) extends a mild near-term recovery on Tuesday, holding above its 50-day Exponential Moving Average at $90.80. Aave protocol’s V3 deployment on Monad blockchain recorded over $500 million in deposits over the last month, reflecting increased user adoption.

US JOLTs report in focus

In the US, the June JOLTs report will be in the spotlight. Job openings have increased modestly this year, which has historically predicted rising wage cost pressures ahead. June trade balance data will also be released in the afternoon and the preliminary reading pointed towards a stable trade deficit from May. The Fed's Schmid (non-voter, hawk) will be on the wires overnight.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.