Pound Sterling Price News & Forecast: GBP/USD appreciates on ceasefire hopes and Iran talks

FXStreet Team FXStreet

GBP/USD rises as Iran talk hopes weigh on US Dollar demand today

GBP/USD advances on Friday as improved risk appetite weighed on the US Dollar’s safety appeal amid growing speculation that a second round of talks between the US and Iran looms. A three-week extension of the ceasefire between Israel and Lebanon added to traders’ optimism.

The GBP/USD trades at 1.3498, up by 0.24% after bouncing off daily lows of 1.3453, amid renewed hopes for an end to the conflict between the US and Iran. Read more...

GBP/USD: Retail data underpins modest upside – Scotiabank

Scotiabank strategists Shaun Osborne and Eric Theoret note that stronger-than-expected United Kingdom (UK) Retail Sales, driven largely by fuel purchases, have supported the Pound (GBP), though broader UK data still point to a softer growth outlook. Short-term GBP/USD technicals are described as neutral to bullish, with a developing base pattern and clearly defined support and upside levels that could guide near-term price action.

"UK Retail Sales rose a stronger than expected 0.7% in March, largely reflecting purchases of fuel as prices rose in response to conflict in the Middle East." Read more...

GBP/USD Price Forecast: Attracts bids near 20-day EMA as US Dollar corrects

The GBP/USD pair recovers its early losses and turns positive around 1.3490 during the European trading session on Friday. The Cable gains as the US Dollar (USD) corrects after a three-day winning streak. As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.1% lower to near 98.70.

The US Dollar comes under pressure ahead of the United States (US) markets opening; however, the broader outlook of the currency remains firm as oil prices remain higher amid fears of a prolonged closure of the Strait of Hormuz, a critical passage to almost 20% of global energy supply. Read more...

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AUD/USD hangs near three-week low, below 0.6950 as traders await US NFP report

AUD/USD hits a three-week low during the Asian session on Friday as the RBA’s dovish shift and a rout in equity markets weigh on the risk-sensitive Aussie. However, the recent slump in US bond yields to a two-month low keeps US Dollar bulls on the back foot and limits losses for the currency pair as traders look to the US NFP report for a fresh impetus.

USD/JPY bounces off three-week low; keeps the red near 157.65 as focus remains on US NFP

USD/JPY bounces off the weekly low set during the Asian session, as bears turn cautious ahead of the US NFP report due later this Friday. The upside seems limited as the recent slump in US bond yields and hopes of Iran war de-escalation undermine the US Dollar. Moreover, a hawkish BoJ and intervention risks support the Japanese Yen, capping the pair.

Gold loses the grip; $4,000 comes next on the downside

Gold sets aside two daily advances in a row on Friday, opening the door to a potential test of the key $4,000 mark per troy ounce. The precious metal’s retracement follows a decent improvement in the sentiment surrounding the US Dollar, solid NFP data and higher US Treasury yields across the board.

Democrats win House and Senate in US midterms: Why isn’t all bad news for crypto

The biggest story this week was Tuesday’s US midterm elections, which saw Democrats win control of both the House and the Senate in a clear blue wave. This political shift in the US has triggered sharp price swings across the cryptocurrency market.

Week ahead – Inflation and geopolitics in focus as US political landscape shifts

Post-midterm election euphoria fizzles out as risk aversion prevails. US CPI, PPI and Fedspeak on the radar as Fed hike bets remain supported. Oil retreat pauses on mixed hopes about the ongoing conflicts.

US Dollar breaks below 101.50 as Democrats sweep Congress

The US Dollar (USD) comes under heavy selling pressure on Wednesday, with the US Dollar Index (DXY) falling around 0.5% to trade near 101.35 after sliding below the 101.50 level. The Greenback retreats to its lowest level in four weeks as investors reassess the political and economic outlook following the Democratic Party's sweeping victory in the United States (US) midterm elections.