Pound Sterling Price News and Forecast: GBP/USD remains steady after gaining more than 0.5% in the previous session

FXStreet Team FXStreet

When are the UK Retail Sales and how could they affect GBP/USD?

The United Kingdom (UK) docket has the Retail Sales data for December to be released by the Office for National Statistics (ONS) on Friday, later this session at 07:00 GMT. UK Retail Sales are expected to decline by 0.1% month-over-month (MoM) in December, following a 0.1% decline seen in November. On an annualized basis, Retail Sales are seen rising 1% during the reported month, inching higher from the previous increase of 0.6%.

GBP/USD pair may remain silent even if UK Retail Sales data for December come stronger-than-expected, as the Bank of England (BoE) is widely expected to stay put on a gradual easing path, even as price pressures accelerated in December. Focus will be shifted toward the preliminary S&P Global Purchasing Managers’ Index (PMI) data for January from the United Kingdom (UK) and the United States (US) due later in the day. Read more...

GBP/USD rallies as US–EU trade de-escalation lifts risk appetite

GBP/USD rises during the North American session on Thursday amid an improvement in risk appetite, following a de-escalation of the trade-war between the US and Europe. Meanwhile, traders shrug off strong US data, which, despite signaling the strength of the economy, failed to underpin the US Dollar (USD). At the time of writing, the pair trades at 1.1357, up 0.24%.

On Wednesday, the US President Donald Trump announced that he had reached an agreement with NATO in regard to Greenland, refraining from imposing duties on eight European countries and averting an escalation of the trade war. Read more...

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EUR/USD stays below 1.1750 ahead of US PMI data

EUR/USD trades marginally lower on the day below 1.1750 but clings to strong weekly gains. The data from Germany and the Eurozone showed that the business activity in private sector expanded at a modest pace in January, helping the Euro hold its ground. In the second half of the day, US PMI data will be watched closely.

GBP/USD climbs above 1.3500 on upbeat UK data

GBP/USD gains traction and trades in positive territory above 1.3500 on Friday following an earlier decline. Upbeat Retail Sales and January PMI data from the UK help Pound Sterling stay resilient against its rivals as market focus shifts to US data.

Gold pulls away from record-high, holds above $4,900

Gold loses its traction and declines toward $4,900 after touching a new record-high near $4,970 earlier in the day. The modest US Dollar recovery ahead of US PMI data causes XAU/USD to stretch lower, while investors keep a close eye on geopolitics.

Bitcoin, Ethereum, and XRP face elevated downside risk amid weak technical setups

Bitcoin is struggling to stay above support at $89,000 at the time of writing, as headwinds intensify across the cryptocurrency market on Friday. Ethereum and Ripple are facing low retail and institutional demand, while bearish indicators continue to flash subtle signals that losses may extend further.

A tough road ahead for the Bank of Japan

The BoJ paused rates at 0.75%, expressing greater confidence in growth and reaching the 2% inflation goal. The challenge is balancing rate hikes to support JPY without slowing growth.

Tron Price Analysis: TRX extends gains as bullish breakout structure remains intact

Tron (TRX) price extends its gains, trading above $0.30 at the time of writing on Friday after retesting the previously broken bullish breakout structure earlier this week. The positive on-chain and derivatives data back the bullish price action.