Pound Sterling Price News and Forecast: GBP/USD steadies as traders adopt caution ahead of UK labor market data

FXStreet Team FXStreet

GBP/USD remains steady near 1.3450 ahead of UK labor data

GBP/USD holds ground after registering modest gains in the previous session, trading around 1.3430 during the Asian hours on Tuesday. The pair moves little as traders adopt caution ahead of labor market data from the United Kingdom (UK) due later in the day. Focus will shift toward the UK Consumer Price Index (CPI) and Retail Sales figures for December later in the week.

The ILO Unemployment Rate is forecast to ease to 5% from 5.1% in the three months to November, the highest since early 2021. Meanwhile, Average Earnings Including Bonuses are expected to slow to 4.6% from 4.7%. Read more...

GBP/USD bounces from key levels as US Dollar falters on geopolitics

GBP/USD caught a much-needed bullish bounce on Monday, driven higher by a broad-market decline in the US Dollar (USD) rather than any particular strength behind the Pound Sterling (GBP). US President Donald Trump has informed the world that he wants to own Greenland, a proposal that has met stiff opposition from the European Union, including the Kingdom of Denmark, of which Greenland is an autonomous territory, and Greenland itself.

Donald Trump has escalated rhetoric about the US “owning” Greenland, hinting at a more aggressive stance that he partially attributes to being snubbed for the Nobel Peace Prize, despite being reminded by Norway’s prime minister that the prize is awarded by an independent committee. He has also threatened to impose a 10% tariff on US exports to European countries starting February 1, rising to 25% by summer, unless the European Union cedes an entire nation to the United States. European leaders swiftly responded with reciprocal tariff threats, which are expected to further strain already pressured American industries. Read more...

GBP/USD rallies as Trump tariff threats against Europe weigh on US Dollar

GBP/USD rises on Monday after tensions between the US and Europe had grown following a social media post of US President Donald Trump threatening to impose duties on eight European countries. At the time of writing, the pair trades at 1.3414, up 0.28%.

Over the weekend, Trump announced 10% tariffs on eight countries, including Denmark, Norway, Sweden, France, Germany, Finland, the Netherlands and the UK. The duties would be effective on February 1 and would be increased to 25% on June 1 if they failed to reach an agreement, so the US can annex or purchase Greenland. Read more...

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EUR/USD holds firm near 1.1850 amid USD weakness

EUR/USD remains strongly bid around 1.1850 in European trading on Monday. The USD/JPY slide-led broad US Dollar weakness helps the pair build on Friday's recovery ahead of the Eurozone Sentix Investor Confidence data for February.

GBP/USD hovers near 1.3600 as UK government crisis weighs on Pound Sterling

GBP/USD moves sideways after registering modest gains in the previous session, trading around 1.3610 during the European hours on Monday. The pair could come under pressure as the Pound Sterling may weaken amid a fresh government crisis in the United Kingdom.

Gold remains supported by China's buying and USD weakness as traders eye US data

Gold struggles to capitalize on its intraday move up and remains below the $5,100 mark heading into the European session amid mixed cues. Data released over the weekend showed that the People's Bank of China extended its buying spree for a 15th month in January. Moreover, dovish US Fed expectations and concerns about the central bank's independence drag the US Dollar lower for the second straight day, providing an additional boost to the non-yielding yellow metal.

Cardano steadies as whale selling caps recovery

Cardano (ADA) steadies at $0.27 at the time of writing on Monday after slipping more than 5% in the previous week. On-chain data indicate a bearish trend, with certain whales offloading ADA. However, the technical outlook suggests bearish momentum is weakening, raising the possibility of a short-term relief rebound if buying interest picks up.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.