Pound Sterling Price News and Forecast: GBP/USD under pressure as markets question BoE stance [Video]

FXStreet Team FXStreet

GBP/USD under pressure as markets question Bank of England's stance

The GBP/USD pair remains under pressure, trading around 1.3460, as it contends with a mix of conflicting factors.

In the UK, Bank of England Governor Andrew Bailey stated that inflation is expected to decline next year but confirmed that the central bank's policy will remain restrictive. He pointed to a weakening labour market and cautious consumers, whose savings are twice as high as pre-pandemic levels. Bailey acknowledged that interest rates would likely continue to fall but emphasised that the pace of easing would be strictly dependent on incoming inflation data. Read more...

GBP/USD Price Forecast: Seems vulnerable near 50% Fibo. level; US macro data awaited

The GBP/USD pair attracts some buying on Thursday and recovers a part of the previous day's losses to the 1.3425 region, or a nearly three-week trough. Spot prices hold steady above mid-1.3400s during the early part of the European session amid a softer US Dollar (USD), though any meaningful appreciation still seems elusive ahead of important US macro releases.

The final US Q2 GDP print, along with Durable Goods Orders and the usual Initial Weekly Jobless Claims data, will be published later today. The focus, however, will remain glued to the US Personal Consumption Expenditure (PCE) Price Index on Friday. The latter is seen as the Federal Reserve's (Fed) preferred inflation gauge and will play a key role in influencing expectations about the future rate-cut path, which, in turn, will drive the US Dollar (USD) and provide a fresh impetus to the GBP/USD pair. Read more...

GBP/USD under pressure as UK inflation risks limit Sterling’s recovery [Video]

The GBP/USD pair has been weighed down by a mix of stubborn UK inflation and a cautious Bank of England, slipping back toward the 1.3450 handle. While the pound struggles to find footing, the U.S. dollar continues to enjoy steady support from firm yields and a slightly higher policy rate, tilting the balance in favor of the greenback. The pair now faces a critical test as price consolidates below a fresh 4H Fair Value Gap, with traders watching whether sterling can stage a recovery or if downside momentum will deepen. 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 slumps below $5,100 as US Dollar gains

Gold price tumbles to near $5,085 during the early Asian session on Friday. The precious metal loses ground amid a stronger US Dollar. The US employment report for February will take center stage later on Friday.

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.