Pound Sterling Price News and Forecast: GBP/USD trades in positive territory for the eighth consecutive day

FXStreet Team FXStreet

GBP/USD Weekly Forecast: Pound Sterling risks correction, eyes turn to US PCE inflation

The Pound Sterling (GBP) clinched a second consecutive weekly gain against the US Dollar (USD), as the GBP/USD pair reached its highest level since March 2022, above 1.3200.

GBP/USD witnessed another blockbuster week, devoid of high-impact economic events from the United Kingdom (UK). The underlying positive tone around the major was mainly driven by the sustained weakness in the US Dollar against its major rivals. Read more...

GBP/USD edges higher above 1.3200 as Fed’s Powell signals ready to cut rates

The GBP/USD pair trades on a stronger note around 1.3215 during the early Asian session on Monday. The signal that the US Federal Reserve (Fed) will start easing its monetary policy in September drags the Greenback lower and supports GBP/USD. Market players await the US Durable Goods Orders for July, which are due later on Monday.

At Jackson Hole on Friday, Fed Chair Jerome Powell gave a clear signal that the FOMC will cut the target range for the Federal Funds Rate at their next meeting on September 17-18 as inflation is on a sustainable path back to the 2% target. Nonetheless, Powell did not want to provide a hint about the size of the rate cut in September and the pace of the rate cut this year as the Fed remains data-dependent. Read more...

Author

FXStreet Team

FXStreet

EUR/USD weakens toward 1.1600 as firm US data revives the US Dollar

The EUR/USD edged lower on Thursday, down some 0.21% as market sentiment remains risk averse due to the ongoing conflict in the Middle East. This and solid US economic data pushed the pair lower towards the 1.1600 figure ahead of Friday’s session.

GBP/USD drifts lower heading into NFP range

GBP/USD edged lower by 0.2% on Thursday, settling close to 1.3350 in a strained trading session that kept the pair pinned near three-month lows. Price briefly recovered earlier in the day on reports that Iran had indirectly signaled openness to talks with the CIA, but the bounce faded as Israeli officials reportedly advised Washington to disregard the overture.

Gold: further weakness could challenge $5,000

Gold comes under fresh selling pressure on Thursday, slipping back below the $5,100 mark per troy ounce. Persistent strength in the US Dollar (USD) is preventing the yellow metal from building a meaningful recovery, even as markets remain risk-averse amid the deepening conflict in the Middle East.

NYSE parent Intercontinental Exchange partners with OKX, invests at a $25B valuation

OKX announced an investment from Intercontinental Exchange, raising its valuation to $25 billion, alongside a partnership to expand regulated crypto futures and tokenized equity offerings globally.

Two PMIs, two Chinas

China’s economic data are often treated with a degree of caution by global investors. The challenge is not necessarily that the numbers are incorrect, but that they can describe very different parts of a vast and complex economy. Nowhere is that more evident than in China’s PMIs.

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.