Pound Sterling Price News and Forecast: GBPUSD traders are eyeing December’s US Nonfarm Payrolls data

FXStreet Team FXStreet

GBP/USD plunges toward 1.1900 on US data as traders eye US NFP

The GBP/USD plummets from 1.2078 daily highs toward the 1.1910s area on broad US Dollar (USD) strength triggered by solid labor market data. Wall Street is set to register losses, portraying investors’ dampened mood. At the time of writing, the GBP/USD is trading at 1.1912.

GBP/USD

Overview
Today last price	1.191
Today Daily Change	0.0000
Today Daily Change %	0.00
Today daily open	1.191

Trends
Daily SMA20	1.2119
Daily SMA50	1.1947
Daily SMA100	1.1666
Daily SMA200	1.2024

Levels
Previous Daily High	1.2078
Previous Daily Low	1.1873
Previous Weekly High	1.2126
Previous Weekly Low	1.2002
Previous Monthly High	1.2447
Previous Monthly Low	1.1992
Daily Fibonacci 38.2%	1.1952
Daily Fibonacci 61.8%	1.2
Daily Pivot Point S1	1.1829
Daily Pivot Point S2	1.1749
Daily Pivot Point S3	1.1624
Daily Pivot Point R1	1.2034
Daily Pivot Point R2	1.2159
Daily Pivot Point R3	1.2239

FX weekly: Trades results, GBP/USD and EUR/NZD

EUR/AUD target at 1.5300 and 1.5200 traded from 1.5900's to 1.5416 or +500 pips. EUR/NZD top at 1.6900's offered 12 short trades for about 100 pips per trade. GBP/USD failed at vital 1.2500 and traded to 1.1900's. GBP/CAD broke below 1.6700 and traded to target at 1.6300's. EUR/CAD middle 1.4400's.

AUD/USD battles 0.7000 amid bullish USD

AUD/USD keeps its offered tone intact near 0.7000 at the start of a new week, trading near its lowest level since August 4 amid a bullish US Dollar. US yields hold near multi-year highs amid inflation risks from higher oil prices and rising bets on an October Fed rate hike. This, along with the US-Iran standoff, continues to underpin the safe-haven buck and weigh on the pair ahead of Tuesday's RBA policy announcements.

USD/JPY climbs back toward 158.00 after BoJ minutes amid firm USD

USD/JPY finds dip-buyers and reverses part of Friday's slide driven by speculation that authorities will step in again to prop up the Japanese Yen. However, the BoJ's dovish Minutes cap the JPY. Meanwhile, the US Dollar regains traction as the US-Iran standoff supports crude oil prices, fueling inflation fears and reaffirming bets for an October Fed rate hike. This further supports the pair, driving it back toward 158.00.

Gold slides to $4,200 on Fed hike bets and Iran risks

Gold falls hard at the start of a new week, sliding back closer to $4,200 and the lower boundary of the monthly range. Firming October Fed rate-hike bets, along with oil-driven inflation risks, keep US bond yields elevated near multi-year highs, helping the US Dollar regain positive traction amid persistent Iran risks. These factors weigh heavily on the bullion.

Week ahead: Rate hike bets face a crucial data week

Despite the solid drop from the mid-September high, oil prices remained in the driver’s seat for another week, setting the tone in financial markets. Six months have passed since the late-February start of the US-Iran conflict, and there is still no breakthrough in the stalled talks, despite pressure from regional leaders and the rest of the world.

After the Trump Xi summit, markets are trading three clocks

The summit delivered time, not a deal. Trade, oil and chips now each run to a date, and the macro backdrop matters more than the pageantry. Markets wanted a deal and got a calendar date instead. Xi Jinping left Washington on Friday after tea at the White House and a tour of the National Archives.

Fed vs BoJ: Both hiked. The market only believes one of them – and the chart shows which

The Fed and the BoJ have just done something remarkably similar. Both central banks raised interest rates by 25 bps last week, both are confronting inflation risks, and both signal that future decisions will depend on incoming economic data.