Pound Sterling Price News and Forecast: GBP/USD receives support as the Fed is expected to cut rates in Sept

FXStreet Team FXStreet

GBP/USD maintains position above 1.3700 ahead of UK Q1 GDP data

GBP/USD inches higher ahead of the United Kingdom’s (UK) Gross Domestic Product for the first quarter, trading around 1.3720 during the Asian hours on Monday. The pair may gain ground as the US Dollar (USD) may further depreciate, as traders expect the Federal Reserve (Fed) to cut rates at the September meeting.

On Friday, data showed that US Personal Spending unexpectedly fell in May, the second decline this year. Meanwhile, US Personal income dropped by 0.4% in May, the largest decrease since September 2021. The week ahead welcomes a slew of key US employment figures, which may further offer fresh impetus on the US Federal Reserve’s (Fed) policy outlook. Read more...

GBP/USD Weekly Outlook: Pound Sterling awaits central bank talks in the NFP week

The Pound Sterling (GBP) recovery gathered steam against the US Dollar (USD), driving the GBP/USD pair to the highest level since October 2021, above 1.3750. It was a clear win-win case for the higher-yielding Pound Sterling as the US Dollar gradually lost its safe-haven appeal amid yo-yo-ing sentiment surrounding the US Federal Reserve’s policy outlook.

Though the GBP/USD pair saw a bearish opening gap on Monday, it was quickly reversed as buyers jumped back with a bang. The Pound Sterling was sold off at the weekly open as investors scurried for safety in the US Dollar after markets reacted negatively to the weekend news of the US military involvement in the Israel-Iran conflict. Read more...

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FXStreet Team

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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.

AUD/USD falls to near 0.7100 after slipping below 50-day EMA

AUD/USD depreciates after registering minor gains in the previous day, trading around 0.7120 during the Asian hours. The technical analysis of the daily chart shows the pair consolidating sideways within a rectangle pattern, as neither bulls nor bears gain control. The AUD/USD pair is holding a slight bearish tone however as it sits beneath both the nine-day and 50-day EMAs.

160.00: USD/JPY back near intervention territory after upbeat US jobs report

US Nonfarm Payrolls beat expectations by a wide margin in May, with 172K jobs added. The US Dollar rebounds after the release, helping USD/JPY recover from its intraday lows. Warnings from Japanese authorities continue to limit upside potential near the 160.00 threshold.

Gold targets $4,300 amid stronger Dollar

Gold faces increasing selling interest and navigates the area of three-month lows near the $4,300 mark per troy ounce on Friday. The precious metal’s decline comes as traders assess the stronger-than-expected NFP, while the bid bias in the Greenback and higher US Treasury yields also collaborate with the retracement.

Cardano hits five-year low even as Hoskinson clarifies "break" isn't an exit

Cardano (ADA) price is down 10% at press time on Friday, extending losses over 30% so far this week amid Charles Hoskinson's clarification that "break" isn't an exit.

Week ahead – Fed countdown begins amid US inflation data and geopolitical risks

Fed Chair Warsh’s first meeting approaches as key US inflation data could reshape expectations. Oil prices remain elevated as US-Iran talks continue; tariffs also return to the spotlight. ECB is expected to hike; will it be a one-off move or is July live?

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.