GBP/USD rises to near 1.3050 as US Dollar remains tepid ahead of PPI data
GBP/USD is on track for its fourth consecutive daily gain, trading near 1.3030 during Friday’s Asian session. The pair continues to strengthen as the US Dollar loses ground amid lingering concerns over both the global and US economies.
The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, has slipped to around 100.20 at the time of writing. The DXY's decline follows a surprise drop in US consumer prices for March, shifting investor focus to upcoming key data releases — the March Producer Price Index (PPI) and preliminary Michigan Consumer Sentiment, both due later today. Read more...
GBP/USD lurches higher as risk aversion abates
GBP/USD took another bullish step higher on Thursday, bolstered by a broad-base weakening in Greenback demand after US Consumer Price Index (CPI) inflation cooled even faster than expected. Coupled with a general easing in risk-off flows following the Trump administration’s constant carousel of on-again, off-again tariffs, Greenback strength across the board has been receding, giving Cable an opportunity to rebound from recent losses.
US Consumer Price Index (CPI) inflation came in well below expectations in March. Core CPI eased to 2.8% YoY, reaching a four-year low after stubbornly holding above 3.0% for nearly eight months. Headline CPI inflation also eased to 2.4% YoY, and investment markets will be devastated if tariffs undo years’ worth of work by the Federal Reserve (Fed) to bring inflation to heel. Read more...
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EUR/USD remains pressured below 1.1400 in the European trading hours on Tuesday. The Euro weakens amid rising expectations of further ECB interest rate cuts while the US Dollar draws support from some progress on US trade deals with its major global trading partners. US jobs data awaited.
GBP/USD retreats below 1.3400 ahead of US data
GBP/USD reverses its direction and trades below 1.3400 after setting a multi-year high near 1.3450 earlier in the day. The US Dollar (USD) stays resilient against its rivals as markets remain optimistic about a de-escalation in the US-China trade conflict. Focus shifts to key macroeconomic data releases from the US.
Gold declines toward $3,300 on improving risk mood
Gold price remains heavily offered through the early European session, though it manages to hold above the $3,300 mark amid mixed fundamental cues. Signs of easing US-China trade tensions continue to drive flows away from traditional safe-haven assets and undermine demand for the precious metal.
JOLTS job openings expected to dip slightly in March as markets eye April employment data
The Job Openings and Labor Turnover Survey (JOLTS) will be released on Tuesday by the United States Bureau of Labor Statistics. Markets expect job openings to retreat to 7.5 million on the last business day of March with the growing uncertainty surrounding the impact of Trump’s trade policy.
Week ahead: US GDP, inflation and jobs in focus amid tariff mess – BoJ meets
Barrage of US data to shed light on US economy as tariff war heats up. GDP, PCE inflation and nonfarm payrolls reports to headline the week. Bank of Japan to hold rates but may downgrade growth outlook. Eurozone and Australian CPI also on the agenda, Canadians go to the polls.
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