Pound Sterling Price News and Forecast: GBP/USD eyes the GDP release for October

FXStreet Team FXStreet

When are the UK data releases and how could they affect GBP/USD?

The United Kingdom (UK) economic docket features the monthly Gross Domestic Product (GDP) print for October and Industrial Production figures, to be published by the Office for National Statistics (ONS) this Thursday at 07:00 GMT.

The UK economy is expected to have registered a modest 0.1% growth in October, compared to the 0.1% contraction recorded in the previous month. Meanwhile, the UK Industrial Production is seen rising 0.7% MoM after declining 2% in September, while the annual output is anticipated to fall 1.2% during the reported month, following a 2.5% decline in the previous month. Read more...

GBP/USD steadies at fresh near-term highs

GBP/USD is holding firmly in bullish territory heading into the tail end of the week, but Cable bidders ran into a technical resistance point at the 1.3400 handle on Thursday. The Federal Reserve (Fed) delivered a third straight interest rate cut this week, bolstering broad-market risk appetite and pushing the US Dollar (USD) into the low side across the board.

Fed Chair Jerome Powell cautioned following the Fed’s latest interest rate trim that further moves on rates are less than likely heading into 2026, and the majority of Fed policymakers see barely two more interest rate cuts over the next two years. Markets responded by ramping up bets that the Fed will get bullied into a faster pace of interest rate cuts through next year. Read more...

GBP/USD climbs above 1.34 as Fed cut and soft data weigh on US Dollar

The Pound Sterling (GBP) rallies during the North American session on Thursday, up over 0.68% after the Federal Reserve (Fed) delivered a 25-basis-point rate cut and a softer-than-expected jobs report, which weighed on the US Dollar (USD). At the time of writing, GBP/USD trades at 1.3417, its highest level in the last six weeks.

US Initial Jobless Claims for the week ending December 6 increased by 236K, up from the previous week's upwardly revised figure of 192K, reported the Department of Labor. Continuing Claims for the week ending November 29 dipped from 1.937 million to 1.838 million. Read more...

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

AUD/USD sticks to positive bias above 0.7100; lacks bullish conviction

AUD/USD trades with a positive bias for the second straight day, holding above 0.7100 in the Asian session on Friday as softer US bond yields keep US Dollar bulls on the back foot. Furthermore, hawkish RBA Governor Bullock's comments boost rate hike bets and support the Aussie. However, the Fed's hawkish outlook, along with geopolitical uncertainties, limits USD losses and caps the pair.

USD/JPY approaches 158.00 as Japanese Yen resumes decline

USD/JPY is resuming its upside in the European session on Friday, refreshing two-week highs and nearing 158.00. The Japanese Yen extends losses, despite the Bank of Japan's (BoJ) expected rate hike to 1.25% and hawkish Governor Ueda's comments, as two surprise dissents against the rate hike weigh on it.

Gold keeps the bid tone in place; still below $4,400

Gold adds to the optimism seen in the second half of the week, trading with decent gains just below the $4,400 mark per troy ounce on Friday. The precious metal’s advance finds traction in declining crude oil prices and fresh selling pressure on the US Dollar.

Why altcoin season isn't coming back — and what stole its capital

If, after two years of being frozen in ice, Katara and Sokka woke you up to the crypto market, it would seem like 100 years have passed. With Bitcoin soaring to record highs just over a year ago, everyone expected a routine altcoin season, where investors take profits from the top crypto to chase higher returns in altcoins.

BoJ Recap: Not as hawkish as expected

The BoJ raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks. Governor Kazuo Ueda said the policy phase had changed.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.