Pound Sterling Price News and Forecast: GBP/USD posts fresh weekly high on lower UK jobless rate

FXStreet Team FXStreet

Pound Sterling posts fresh weekly high on lower UK jobless rate and soft US PPI

The Pound Sterling (GBP) jumps above 1.2800 against the US Dollar (USD) in Tuesday’s North American trading hours. The GBP/USD pair posts a fresh weekly high above 1.2800 as the US Dollar (USD) slides after the release of the softer-than-expected United States (US) Producer Price Index (PPI) data for July and United Kingdom (UK) Unemployment Rate surprisingly fall in three-months ending June. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, drops vertically below the crucial support of 103.00. Read More...

GBP/USD maintains its bid tone around 1.2775-1.2780 region ahead of UK jobs data

The GBP/USD pair attracts some dip-buyers during the Asian session on Tuesday and climbs to a fresh daily peak, around the 1.2775-1.2780 region in the last hour. Spot prices, however, remain confined in the previous day's broader trading range as traders keenly await important macro data from the UK and the US before placing fresh directional bets. Read More...

GBP/USD flattens as markets await key midweek data

GBP/USD continued to flatten out on Monday, trading in place and testing key technical levels as markets buckle down for the wait to a midweek inflation data outing. Recent volatility that saw Cable drop back to long-run averages below 1.2700 have eased into the background for now, and investors will be pivoting to face a round of key inflation prints on both sides of the Atlantic due in the midweek. Read More...

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EUR/USD stays weak near 1.1650 ahead of critical US events

EUR/USD stays in the red near 1.1650 in the European trading hours on Friday. The pair remains undermined by broad US Dollar strength and a cautious market mood. Traders keenly await the US Nonfarm Payrolls data and Supreme Court's ruling on Trump's tariff powers for further direction.

GBP/USD holds lower ground below 1.3450, with eyes on US data

GBP/USD remains subdued for the fourth consecutive day, while trading below 1.3450 in the European session on Friday. Markets remain in a wait-and-see mode before the key US event risks and prefer to hold the US Dollar, which weighs negatively on the pair. The US monthly jobs data and the Supreme Court decision on tariffs are awaited.

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Nonfarm Payrolls expected to show US labor market remained weak in December

The United States Bureau of Labor Statistics will release the Nonfarm Payrolls data for December on Friday at 13:30 GMT. Economists expect Nonfarm Payrolls to rise by 60,000 in December following the 64,000 increase recorded in November.

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