Pound Sterling Price News and Forecast: GBP/USD soft growth data amid political noise

FXStreet Team FXStreet

Pound Sterling declines on weak UK Q3 GDP, labour data

The Pound Sterling (GBP) continues to underperform its major currency peers as weaker-than-projected United Kingdom (UK) preliminary Gross Domestic Product (GDP) data has prompted further economic concerns.

On Tuesday, the UK's economic uncertainty escalated after the release of the labour market data for the three months ending September, which showed that the Unemployment Rate accelerated to 5%, the highest level seen since February 2021. Read more...

GBP: Soft growth data amid political noise – ING

UK third quarter growth came in slightly below expectations this morning: 0.1% QoQ and 1.3% YoY, ING's FX analyst Francesco Pesole notes.

"This complicates the job of Chancellor Rachel Reeves a bit more ahead of the UK Budget, where she’ll try to reassure markets with fiscally prudent measures, whilst trying not to dampen growth excessively or stoke up inflation." Read more...

GBP/USD: Likely to trade in a range of 1.3065/1.3185 – UOB Group

There is scope for Pound Sterling (GBP) to drop below 1.3100; the likelihood of a clear break below 1.3085 is not high. GBP is now more likely to trade in a range of 1.3065/1.3185 rather than edging higher, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. Read more...

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EUR/USD looks sidelined below 1.1600

EUR/USD remains on the back foot in the latter part of the NA session on Thursday, now attempting a consolidative theme in the sub-1.1600 region. A more cautious market mood, driven by the escalating conflict in the Middle East, together with broad-based strength in the US Dollar, is favouring the continuation of the leg lower in spot.

GBP/USD stays offered near 1.3340

GBP/USD fades Wednesday’s uptick and trades with decent losses in the 1.3340 zone in the latter part of Thursday’s session. Cable’s weakness, alongside the rest of the risk complex, follows the strong performance of the Greenback amid intense geopolitical jitters.

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Crypto Today: Bitcoin, Ethereum, XRP hold weekly gains despite US-Iran war

The cryptocurrency market is gaining strength on Thursday, building on Wednesday's upswing, which saw Bitcoin reach a weekly high above $74,000. Ethereum and Ripple are moderating their recent gains amid uncertainty stemming from the escalating war in the Middle East.

Two PMIs, two Chinas

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Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.