GBP/USD Weekly Forecast: Pound Sterling buyers turn cautious as the Fed verdict looms
The Pound Sterling (GBP) rebounded firmly against the US Dollar (USD), with the GBP/USD pair snapping two weekly declines in a row.
Pound Sterling witnessed a negative start to the week despite the return of risk appetite on ebbing fears over a wider regional conflict in the Middle East. No official comments from Israel confirming Friday’s Israeli missiles strike on Iran and denial of further retaliatory measures by Iranian authorities calmed markets down. Read more...
GBP/USD holds positive ground above 1.2500 on weaker US Dollar, Fed rate decision looms
The GBP/USD pair holds positive ground near 1.2520 on Monday during the early Asian session. The uptick of the major pair is supported by the softer US Dollar (USD) below the 106.00 psychological mark. Investors will closely monitor the Federal Open Market Committee (FOMC) interest rate decision and Press Conference on Wednesday.
The US Federal Reserve (Fed) is expected to leave the interest rate unchanged in its current 5.25%–5.5% range on Wednesday. The US economy remains strong, and inflation has started to turn higher. On Friday, the US Bureau of Economic Analysis showed the Core Personal Consumption Expenditures (PCE) Price Index rose 2.8% YoY in March. These reports have triggered speculation that the first cut might not come until September. 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
AUD/USD holds below 0.6750 on US Dollar recovery
The AUD/USD pair edges lower to 0.6745, snapping the four-day winning streak during the early Asian session on Monday. The renewed US Dollar demand amid the cautious mood weighs on the pair.
EUR/USD bets for soon-to-come US rate cuts hit the US Dollar
The EUR/USD pair finally gathered directional strength following a two-week consolidative stage and reconquered the 1.0800 mark, currently trading ahead of the close at around 1.0820 and after hitting 1.0841, its highest in three weeks.
Gold: Points to bullish tilt ahead of Powell’s testimony, US inflation data
Gold benefited from broad-based USD weakness and advanced beyond $2,380. Fed Chairman Powell’s testimony and US CPI data could significantly impact Gold’s performance this week. XAU/USD’s near-term technical outlook points to a bullish tilt.
Ethereum records another day of heavy liquidations as Mt. Gox bearish pressure persists
Ethereum is down nearly 5% on Friday following the Mt. Gox BTC repayment, sparking more than $108 million in ETH liquidations. The repayment's supply strengthened the bearish momentum on Bitcoin, which spiraled into altcoins like ETH.
French election: It’s all over for Marine Le Pen, but the left weighs on the Euro
The deciding vote in the French Parliamentary elections closed this evening, and the exit poll suggests a shock result. The winning party is the left alliance, the popular front, which was pulled together to try and keep Le Pen’s far right National Rally party out of power.