Pound Sterling Price News and Forecast: GBP/USD retraces against US Dollar with US NFP

FXStreet Team FXStreet

Pound Sterling retraces against US Dollar with US NFP under spotlight

The Pound Sterling (GBP) retraces to near 1.3535 against the US Dollar during the European trading session on Friday, falling from a fresh three-year high of 1.3620 posted the previous day. The GBP/USD pair faces selling pressure as the US Dollar (USD) gains ground ahead of the United States (US) Nonfarm Payrolls (NFP) data for May, which will be published at 12:30 GMT.

The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, ticks up to near 98.85. The US official employment data is expected to influence the next move in the US Dollar as it will likely impact market expectations for the Federal Reserve’s (Fed) monetary policy outlook. Read more...

GBP/USD Forecast: Pound Sterling loses traction ahead of US employment data

GBP/USD edges lower on Friday and trades below 1.3550 after touching its highest level since February 2022 above 1.3600. The May employment report from the US could influence the US Dollar's (USD) valuation and drive the pair's action heading into the weekend.

GBP/USD gathered bullish momentum in the early American session on Thursday after the data published by the US Department of Labor showed that weekly Initial Jobless Claims rose to 247,000 in the week ending May 31 from 239,000 in the previous week. 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.

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.