Pound Sterling Price News and Forecast: Slips as risk aversion, sticky UK inflation lift US Dollar

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GBP/USD slips as risk aversion, sticky UK inflation lift US Dollar

The Pound Sterling (GBP) reverses course on Wednesday as the Greenback edges higher on the day, as risk appetite deteriorates following news reports that Iran's nuclear Bushehr power plant was hit. Also, inflation readings in the UK pushed GBP/USD lower, with the pair losing 0.30% and trading near 1.3370 at the time of writing. Read More...

Pound Sterling bulls seem hesitant ahead of UK CPI; GBP/USD capped near 200-day SMA

The GBP/USD pair attracts fresh buyers during the Asian session on Wednesday, with bulls still awaiting a sustained strength beyond the 200-day Simple Moving Average (SMA) before placing fresh bets. Spot prices currently trade around the 1.3420-1.3425 region, up 0.10% for the day, as the focus now shifts to the UK consumer inflation figures. Read More...

GBP/USD holds onto 1.34 with Wednesday's CPI set to test the BoE's hawkish pivot

GBP/USD is trading close to 1.3420 heading into Wednesday, holding onto most of the week's gains after a sharp round-trip from about 1.3250 on Monday's ceasefire-driven sell-off to near 1.3480 on Tuesday. The pair has stabilized well above the 1.3360 area, with Tuesday's late session fading slightly from the weekly highs in a narrow range. Read More...

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GBP/USD hits multi-week tops around 1.3560

GBP/USD gathers fresh steam and advances to new three-month peaks near the 1.3560 zone on Friday. Cable’s sharp move higher comes after three daily drops in a row and follows the increasing selling pressure hurting the Greenback.

EUR/USD pops to fresh two-month highs, targets 1.1600

EUR/USD advances markedly, revisiting the upper 1.1500s for the first time since mid-June. The pair’s sharp uptick comes on the back of a strong retracement in the US Dollar amid BoJ intervention chatter and despite steady uncertainty in the Middle East.

Gold picks up pace, approaches $4,400

Gold rebounds toward the $4,400 mark per troy ounce on Friday, reversing the previous day’s pullback. The precious metal’s recovery comes as fresh and intense weakness keep weighing on the US Dollar, while traders keep assessing easing expectations of an imminent Fed interest rate hike and the situation from the Middle East.

Pi Network Price Forecast: PI extends consolidation as bulls eye $0.10

Pi Network (PI) price holds steady on Friday, maintaining a consolidating tone for three consecutive days. Mild retail strength in the PI token remains stable, with Open Interest above $9 million, while social buzz eases. PI token’s technical outlook is mixed, as bearish momentum wanes to neutral, with bulls eyeing the $0.1000 psychological level.

Weekly focus: Some relief in US inflation concerns

Actual inflation data for July came out as expected with a 0.1% m/m increase in headline CPI and 0.2% excluding food and energy. Annual headline inflation remains too high at 3.4% and means that wage earners are experiencing stagnating spending power at best, and core inflation is a bit higher than the inflation target of two percent would suggest.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.