Pound Sterling Price News and Forecast: GBP/USD under pressure as hot PPI puts Fed hike in play

FXStreet Team FXStreet

British Pound under pressure as hot PPI puts Fed hike in play

The Pound Sterling (GBP) loses traction against the US Dollar (USD) on Thursday after the latest US producer inflation report, which exceeded estimates, prompting investors to price in a more hawkish Federal Reserve (Fed). At the time of writing, GBP/USD trades at 1.3525, down 0.17%. Read More...

GBP/USD Price Forecast: Positions above 1.3550, nine-day EMA support

GBP/USD remains stronger for the fourth successive day, trading around 1.3550 during the European hours on Thursday. The pair is maintaining a modest bullish bias as it holds above both the nine- and 50-day Exponential Moving Averages (EMAs). The alignment of short- and medium-term EMAs below price hints at a still constructive trend. Read More...

British Pound strengthens above 1.3550, all eyes on US PPI inflation release

The GBP/USD pair gains traction to near 1.3555 during the early European session on Thursday, bolstered by a weaker US Dollar (USD). Markets might turn cautious later in the day ahead of the release of the US Producer Price Index (PPI) data. 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 sits near a one-month top, above 0.7000 amid fresh USD selling

AUD/USD holds above 0.7000 through the Asian session, trading near a one-month high touched earlier this Monday amid renewed US Dollar selling. US bond yields decline further amid a modest pullback in crude oil prices, capping the USD recovery from a three-week low. Moreover, bets for a November RBA rate hike support the Aussie, though upside seems capped ahead of the crucial two-day FOMC meeting, starting Tuesday.

USD/JPY extends recovery from one-month low beyond 157.00

USD/JPY kicks off the week on a positive note, building on Friday's modest bounce from the 156.00 neighborhood, or a one-month low amid some repositioning ahead of key central bank events and data risks. The Fed and the BoJ will announce their policy decisions on Wednesday and Friday, respectively. This, along with the release of Advance US Q3 GDP and the PCE Price Index on Thursday, should provide some meaningful impetus to the currency pair.

Gold gains at start of Fed’s policy week

Gold finds bids below $4,000 in the Asian trade on Monday. The precious metal starts the Federal Reserve’s monetary policy week on positive note, but is broadly vulnerable, being closer to its three-month low of $3,975.

Bitcoin slides below $80,000, Ethereum and XRP bears in control

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) bears remain in control, extending losses on Monday after three straight weeks of declines. BTC slips below $80,000, while ETH and XRP follow BTC’s lead and trade lower at $2,315 and $1.30, respectively. The price action of these top three cryptocurrencies suggests weakening momentum indicators, raising the risk of a deeper correction.

CFTC Report: WTI rally runs ahead of positioning

The week in one sentence: WTI prices surged while speculative longs were cut in the week to October 20, creating the clearest price/positioning divergence. Sterling and the Canadian Dollar led the constructive currency shift, while Yen longs also rebuilt. Speculators turned less constructive on the WTI, reducing their net exposure to around 89.3K contracts.

What November 3 means for the Fed's rate path and the US Dollar

The USD faces a decisive period ahead of the November 3 midterm elections. While markets anticipate another interest rate increase from the Fed in December, the battle for control of Congress could reshape fiscal policy expectations and, indirectly, the path of US monetary policy in 2027.