Pound Sterling Price News and Forecast: Pound vs Dollar – Who wins amid the energy shock?

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Pound vs Dollar: Who wins amid the energy shock?

UK annual CPI rose to 3.5% in September from 3.1% in August, exceeding the 3.4% forecast. Core inflation accelerated to 2.8%, while services inflation reached 3.7%. This increases the possibility of tighter monetary policy.

The interest rate remains at 3.75%, with markets expecting it to rise to 4.00% at the 5 November meeting. Committee member Megan Greene also warned that inflation risks from the energy shock could be higher than previously thought. Read more...

GBP/USD Price Forecast: Sees fresh upside leg above 1.3410

The British Pound (GBP) trades 0.1% higher at around 1.3395 against the US Dollar (USD) during the European trading session on Wednesday. The British currency strengthens as hotter-than-expected United Kingdom (UK) Consumer Price Index (CPI) data for September has prompted hawkish Bank of England (BoE) expectations.

Earlier in the day, the Office for National Statistics (ONS) has reported that the headline CPI grew by 3.5% Year-on-Year (YoY), faster than 3.4% estimates and the August reading of 3.1%. The core CPI – which strips off volatile components of food, energy, alcohol and tobacco – also grew stronger by 2.8% YoY vs. estimates of 2.7% and the previous release of 2.6%. Read more...

GBP/USD Elliott Wave: Cable completes five waves up, watch for a pullback

Some FX majors could stay a bit slow this week, maybe even until next week's Fed decision. EUR/USD, for example, is still testing important resistance around 1.1260 with limited upside for now. But cable stands out, and it looks constructive for more gains after some setback.

Cable came higher as expected, and the reason for this move to the upside was the lower-than-expected unemployment rate in the UK reported yesterday, which dipped to 4.7%. At the same time, inflation is still ticking higher. Today's CPI rose to 3.5% from 3.1%, meaning that the Bank of England could have room for more rate hikes. This could keep GBP/USD in recovery mode. Read more...

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AUD/USD sits at three-week highs above 0.7000 on hawkish RBA-speak

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Zcash's bullish reversal eyes $1,698 peak on NU7 upgrade

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The US Dollar fell. Gold didn't rally. That tells you everything

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