Pound Sterling Price News & Forecast: GBP/USD gains as softer Oil offsets resilient US jobs data

FXStreet Team FXStreet

British Pound climbs as Trump eases tensions, lifting risk mood

The Pound Sterling (GBP) rises by about 0.19% on Tuesday against the US Dollar (USD) as traders remain optimistic about a peace deal between the US and Iran despite ongoing geopolitical uncertainty. The GBP/USD pair trades at around 1.3470 after bouncing off daily lows of 1.3446.

The financial markets remain focused on geopolitics. The intervention by US President Donald Trump in the Israel-Hezbollah conflict tempered investors' fears, which are driving US equity markets to retest all-time highs. Therefore, Oil prices fell, as shown by the US crude Oil benchmark, the West Texas Intermediate (WTI), which was down 0.40% at $92.07. Read more...

British Pound: Outlook shifts from bearish to neutral – OCBC

OCBC's strategists Sim Moh Siong and Christopher Wong shift their British Pound (GBP) view from bearish to neutral, citing easing fiscal concerns and attractive carry that have helped GBP recover from early May losses. Despite soft United Kingdom (UK) data and ongoing political risks, including potential Labour leadership changes, the bank expects stretched short positioning and possible lower Oil prices to limit GBP downside.

"We shift from bearish to neutral on the GBP and revise our end-2026 EUR/GBP forecast to 0.87 from 0.89." Read more...

British Pound holds gains as US Dollar weakens on easing risk aversion

GBP/USD gains ground after registering minor losses in the previous day, trading around 1.3470 during the European hours on Tuesday. The pair appreciates as the US Dollar (USD) loses ground on easing risk aversion due to a partial ceasefire between Hezbollah and Israel.

US President Donald Trump announced on social media on Monday that Israel has agreed to pull back any troops that were preparing to attack Beirut and its suburbs controlled by Hezbollah. Furthermore, Trump also communicated with Iran-aligned Lebanese militant group Hezbollah through intermediaries and secured a pledge that it would not attack Israel. Read more...

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GBP/USD eases toward 1.3500 on geopolitical tensions, hawkish Fed bets

GBP/USD trades with mild losses below 1.3550 in the European session. The US Dollar recovers some ground amid ongoing Middle East tensions and hawkish expectations around the Fed's interest rate outlook, weighing on the pair ahead of US data releases.

EUR/USD stays below 1.1600 after mixed Eurozone inflation data

EUR/USD struggles to capitalize on the overnight bounce and trades below 1.1600 in the European session on Tuesday. The data from the Eurozone showed that the annual HICP inflation rose to 3.3% in August from 2.9% in July, matching the market expectation, while the core HICP inflation edged lower to 2.4% from 2.5% in this period. In the second half of the day, JOLTS Job Openings and ISM Manufacturing PMI data will be featured in the US economic calendar.

Gold drops to nearly two-week low, below $4,400 on hawkish Fed bets and firm USD

Gold weakens further below the $4,400 mark, hitting a nearly two-week low during the first half of the European session. Traders ramped up bets for a rate hike in September following Federal Reserve Chair Kevin Warsh's remarks last Friday.

Ripple, Cardano, and Dogecoin show weakness – Crucial EMAs in focus

Ripple, Cardano, and Dogecoin remain weak after double-digit losses last week, testing their crucial Exponential Moving Averages for immediate support. The technical outlook warns of further weakness in the prices of XRP, ADA, and DOGE as bullish momentum eases.

US JOLTS Job Openings set to show a steady labor market

The US Bureau of Labor Statistics has a busy week, releasing relevant employment data. It will start on Tuesday with the publication of the July Job Openings and Labor Turnover Survey (JOLTS) at 14:00 GMT. The JOLTS report is expected to show job openings stood at 7.3 million in July.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.