GBP/USD rebounds from 1.2750 as US Dollar declines due to rising odds of a Fed rate cut
GBP/USD recovers its recent losses registered in the previous session, trading around 1.2770 during the Asian hours on Thursday. The GBP/USD pair gains ground as the US Dollar (USD) corrects downwards after breaking its four-day winning streak despite higher US Treasury yields.
The US Dollar Index (DXY), which measures the value of the US Dollar against its six major peers, trades around 106.50 with 2-year and 10-year yields on US Treasury bonds standing at 4.16% and 4.28%, respectively, at the time of writing. Read more...
GBP/USD sticks to midrange post-US CPI inflation
GBP/USD went nowhere quickly on Wednesday, churning near 1.2750 after US Consumer Price Index (CPI) figures for November widely met median market expectations. The rest of the week remains tepid on the UK side of the economic calendar, leaving Cable traders to face US Producer Price Index (PPI) numbers on Thursday.
US CPI inflation rose slightly for the year ended in November with headline CPI inflation ticking up to 2.7% YoY from 2.6%, while core CPI inflation held steady at 3.3% YoY. Monthly headline CPI inflation also rose in November, climbing to 0.3% MoM from October’s 0.2%. Despite the overall upswing in main inflation figures, Wednesday’s CPI print was broadly in line with forecasts, keeping investor sentiment tepid. Read more...
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD extends gains above 1.0500 ahead of ECB policy announcements
EUR/USD stretches higher above 1.0500 in the European session on Thursday amid a broad US Dollar retreat. However, the upside could be capped amid expectations for more ECB rate cuts in 2025. ECB policy announcements and Lagarde's press conference are on tap.
GBP/USD rebounds toward 1.2800 as US Dollar retreats
GBP/USD recovers its recent losses and heads toward 1.2800 in the European morning on Thursday. The pair bounces as the US Dollar corrects downwards after breaking its four-day winning streak despite higher US Treasury yields. Focus shifts to US PPI and Jobless Claims data.
Gold price sits near one-month high on Fed rate cut optimism and softer USD
Gold price seems to have stabilized following good two-way price swings and trades around the $2,720 area during the early European session, just below the highest level in more than a month touched earlier this Thursday.
Sui hits new all-time high of $4.9 as Backpack integration sparks $466 million DEX volume surge
Sui price reaches a new all-time high of $4.9 on Thursday after increasing more than 20% the previous week. The main reason behind the rally is Wednesday’s announcement of the Backpack exchange and wallet integration with the SUI blockchain and decentralized exchange volume reaching new highs.
BTC faces setback from Microsoft’s rejection
Bitcoin price hovers around $98,400 on Wednesday after declining 4.47% since Monday. Microsoft shareholders rejected the proposal to add Bitcoin to the company’s balance sheet on Tuesday.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.