GBP/USD Price Analysis: Peaks at five-week high, fails to challenge 1.2700
The Pound Sterling advanced some 0.30% and hit a five-week high of 1.2670 following the release of the US Consumer Price Index (CPI). The data was mostly aligned with estimates, showing a continuation of the disinflation process, which weighed on the Greenback. The GBP/USD trades at 1.2641 at the time of writing. Read More...
Pound Sterling soars to 1.2670 as soft US inflation boosts Fed rate-cut prospects
The Pound Sterling (GBP) posts a fresh monthly high at 1.2670 against the US Dollar (USD) in Wednesday’s American session. The GBP/USD pair soars as the US Dollar has been hit hard due to an expected decline in the United States Consumer Price Index (CPI) and stagnant Retail Sales data for April. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, drops sharply to near 104.50. Read More...
GBP/USD consolidates its gains above 1.2580, all eyes on US CPI data
The GBP/USD pair consolidates its gains around 1.2590 during the early Asian session on Wednesday. The major pair holds above the key 100-day Exponential Moving Average (EMA) but remains capped under the 1.2600 hurdle. The US Consumer Price Index and Retail Sales report for April will be in the spotlight. Also, the Fed’s Kashkari and Bowman are due to speak. 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
GBP/USD stays firm above 1.2750 after a landslide Labour victory
GBP/USD keeps its range above 1.2750 in early European session on Friday. The Pound Sterling stays unperturbed by the landslide Labour Party victory in the UK general election while the US Dollar awaits the Nonfarm Payrolls data for fresh directives.
USD/JPY falls hard toward 160.50, US NFP data awaited
USD/JPY is falling hard toward 160.50 in Asian trading on Friday, having reversed from near 161.40. The pair drops on renewed US Dollar weakness and Japanese verbal intervention, which rescues the Yen. The focus shifts to US jobs report.
Gold price steadily climbs back closer to two-week high, focus remains glued to US NFP
Gold price extends its consolidative price move during the Asian session on Friday and remains well within the striking distance of the highest level since June 21 touched earlier this week. The recent softer US macro data reaffirmed market bets that the Federal Reserve will begin cutting rates in September.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin falls below $56,000 level
Bitcoin breached the weekly support level of $58,375 on Thursday; as of Friday, it is trading 2.8% lower at $55,314. Ethereum and Ripple have dropped below crucial support thresholds, suggesting a potential downtrend for these assets in the coming days.
US NFP: Nonfarm Payrolls forecast to grow by 190K in June as Fed ponders rate-cut timing
With US Federal Reserve Chairman Jerome Powell’s Sintra appearance out of the way, all eyes now remain on top-tier Nonfarm Payrolls data for June, due on Friday at 12:30 GMT.