Pound Sterling Price News and Forecast: GBP/USD trades flat around 1.3695 early Asian session

FXStreet Team FXStreet

GBP/USD holds steady near 1.3700 as markets assess Warsh's Fed outlook

The GBP/USD pair trades on a flat note near 1.3695 during the early Asian session on Monday. Traders weigh what a Federal Reserve (Fed) under Kevin Warsh might look like. The US ISM Manufacturing Purchasing Managers Index (PMI) report will be published later on Monday.

US President Donald Trump named Kevin Warsh to lead the US central bank. Markets anticipate Warsh may lean toward a smaller Fed balance sheet and hold the interest rate higher for longer, which provides some support to the US Dollar (USD) against the Pound Sterling (GBP). Read more...

GBP/USD Weekly Forecast: Pound Sterling targets further gains as BoE, NFP loom

The Pound Sterling (GBP) accelerated its bullish momentum against the US Dollar (USD), with GBP/USD recording its highest level in four years near 1.3870 before experiencing a late pullback. Once again, it was all about the USD’s performance and GBP/USD dancing to its tune. Investors’ confidence in the US assets, such as the Greenback, US Treasury bonds, etc. continued to diminish amid US President Donald Trump’s erratic international policies and attacks on the Federal Reserve’s (Fed) independence.

Markets also remained wary and moved away from the USD ahead of the Fed policy announcement. Trump threatened over the weekend that he would impose a 100% tariff on Canada if it follows through on a trade deal with China. Moreover, the US currency faced headwinds from a weak Conference Board (CB) Consumer Confidence data released on Tuesday. US consumer confidence slumped to the lowest level in more than 11.5 years in January, to 84.5. Read more...

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EUR/USD stays weak near 1.1850 on firmer US Dollar

EUR/USD holds onto Friday’s losses near 1.1850 in the early European trading hours on Monday. The pair remains vulnerable to further downside as the US Dollar stays firm following President Donald Trump’s nomination of Kevin Warsh as the next Fed Chair. The focus now shifts to the US ISM Manufacturing PMI data.

GBP/USD drops below 1.3700 as markets mull a Fed under Warsh

GBP/USD stays under pressure below 1.3700 in the European morning on Monday. Traders weigh what a Federal Reserve under Kevin Warsh might look like, propping up the US Dollar at the expense of the Pound Sterling. The US ISM Manufacturing Purchasing Managers Index report is next of note later on Monday.

Gold extends decline on profit-taking, awaits US ISM PMI

Gold price tumbles to a three-week low below $4,550 during the early European trading hours, pressured by some profit-taking. The precious metal extends the decline after reaching historic highs last week amid signs of political stability in the United States as Kevin Warsh was selected to be the next Fed chair, easing concerns over the US central bank’s independence.

Bitcoin slips below $75,000 as selling pressure accelerates

Bitcoin (BTC) price falls below the $75,000 mark on Monday, having corrected nearly 11% in the previous week and reaching level not seen in nearly 10 months. Market momentum has clearly turned bearish, with technical indicators pointing to further downside toward the next key support at $70,000.

Global central banks hold steady as EMs signal easing ahead

Central banks across both G10 and emerging markets met this week, with most opting to keep policy rates unchanged. Canada, Sweden, Brazil and Chile all held rates steady. Beyond central bank decisions, the Eurozone's solid Q4 GDP growth bolstered the case for the ECB to keep policy rates unchanged next week.