Pound Sterling Price News and Forecast: GBP/USD plunges and prints a new YTD low at 1.3027

FXStreet Team FXStreet

GBP/USD Weekly Forecast: No reprieve amid Ukraine crisis, focus shifts to Fed and BOE

It was a brutal week for markets, as the tensions between the West and Russia intensified over the latter’s invasion of Ukraine. Risk-off trades dominated almost throughout the week, as investors dumped the higher-yielding currencies such as the pound while seeking safety in the US dollar and gold. Stagflation risks from the Ukraine crisis will continue to spook markets heading into a busy week. Top-tier economic releases from both sides of the Atlantic will be closely followed alongside the US Federal Reserve (Fed) and Bank of England (BOE) monetary policy announcements. Read more...

GBP/USD Forecast: Pound stays under bearish pressure despite upbeat UK data

The British pound has met fresh selling pressure early Friday and has slumped to its weakest level since November 2020 near 1.3050. Unless the pair manages to stage a rebound and hold above 1.3100, it is likely to extend its slide toward 1.3000 in the near term. Earlier in the day, the data published by the UK's Office for National Statistics revealed that the economy grew by 0.8% on a monthly basis in January, compared to the market expectation of 0.2%. Additionally, Industrial Production and Manufacturing Production expanded by 0.7% and 0.8%, respectively, in the same period and both of these prints surpassed analysts' estimates. Read more...

GBP/USD plunges and prints a new YTD low at 1.3027

The British pound heads into the weekend, set to record losses as Wall Street’s bell signals the end of a hectic week, mainly driven by market sentiment, leaving macroeconomics or, also sometimes, central banks aside. In tone with the week, Friday’s trading day fluctuated between risk-on/off, on reports from Russia saying that its President Putin seen “certain positive shifts” in talks with Ukraine, while Ukraine Foreign Minister, saying the opposite. That said, the GBP/USD is trading at 1.3035, down 0.39%.. Read more...

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD clings to 1.3500 amid marginal losses

GBP/USD alternates gains with losses around the 1.3500 neighbourhood on Tuesday. Indeed, Cable struggles to further extend its incipient recovery in a context of continuous instability in the Middle East and modest gains in the Greenback.

EUR/USD alternates gains with losses near 1.1540

EUR/USD navigates a tight range near 1.1550 in the latter part of Tuesday’s NA session. The US Dollar’s vacillating price action accompanies the pair while market participants gear up for the crucial US inflation data due on Wednesday.

Gold trades with positive bias below $4,400; Fed hike bets cap gains ahead of US CPI

Gold attracts some dip-buyers during the Asian session on Wednesday, stalling the previous day's retracement slide from the $4,435 region, or the highest level since June 5. The commodity, however, remains below the $4,400 mark as traders await key US inflation figures for fresh cues about the US Federal Reserve's future policy path before placing fresh directional bets on the non-yielding yellow metal.

Can EIP-8363 save Ethereum's ultrasound money thesis, or is the damage already done?

Over the past two years, Ethereum has faced one of its biggest challenges — its circulating supply has been in an uptrend, a direct stab at its ultrasound money thesis.

911 million shares freed: Why SpaceX rallied into its own supply

The most heavily trailed supply event of the year landed on August 6, and the SpaceX (SPCX) stock went up. Roughly 911.5 million shares held by insiders and early backers became eligible to trade, around 43% more than the entire float sold at the listing, and the freely tradable portion of the company jumped from under 5% of shares outstanding to nearly 12% in a single session.

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.