GBP/USD gained even more ground on Wednesday, climbing nearly six-tenths of one percent as US Dollar (USD) flows continues to wither. The Pound Sterling (GBP) is enjoying a much-needed bullish shift in fundamentals as United Kingdom (UK) economic data outpaces new soft spots appearing in key economic figures from the United States (US).
GBP/USD is extending one-sided bullish momentum north of the 50-day Exponential Moving Average (EMA), climbing into 1.3600 after closing flat or higher for all but one of the last nine trading sessions. Cable has risen over 3.35% bottom-to-top after finding a technical floor near the 200-day EMA near 1.3150, but could be poised to run out of bullish momentum near the last swing high.
After a lull in the economic data docket on Wednesday, key data releases are now on the radar for Thursday. UK Gross Domestic Product (GDP) figures for the second quarter will be releasing first, and are expected to show a general slowdown in UK economic growth. UK Industrial and Manufacturing figures from June are also expected to recover from a dip early in the second quarter, but the backdated data is unlikely to drive much market momentum.
On the US side, Producer Price Index (PPI) inflation data for July will be released later on Thursday. Producer prices tend to entirely exclude imported goods and services, so tariff impacts on PPI inflation should remain muted in the near term.
Source: Fxstreet
The Pound Sterling (GBP) attracts bids against its major peers on Thursday on upbeat United Kingdom (UK) Gross Domestic Product (GDP) and factory data. The Office for National Statistics (ONS) reporte...
The British pound rose to $1.355, a three-week high, after UK labour data showed smaller-than-expected job losses in July, easing concerns about the economy. Payrolls fell just 8,000, well below forec...
GBP/USD remained stable after posting a 0.5% gain in the previous session, trading around 1.3500 during the Asian session on Wednesday (August 13). The pair strengthened further as the US dollar (USD)...
The Pound Sterling (GBP) attracts significant bids against its major peers on Tuesday after the release of the upbeat United Kingdom (UK) labor market data for the three-months ending June. The Offic...
The Pound Sterling (GBP) extends its winning streak for the fifth trading day against the US Dollar (USD) at the start of the week. The GBP/USD pair jumps to near 1.3480 due to the continued underperf...
Stocks slipped on Thursday after a new inflation report showed that wholesale costs rose more than expected last month The Dow Jones Industrial Average lost 200 points, or about 0.5%. The S&P 500 shed 0.4%, while the Nasdaq Composite slid...
Gold edged lower early on Thursday as the dollar and yields rose following a report showed U.S. wholesale prices unexpectedly surged in July. Gold for December delivery was last seen down US$11.60 to US$3,396.70 per ounce. The U.S. Bureau of...
Oil prices rose Thursday as focus remained squarely on how an upcoming meeting between U.S. and Russian leaders will affect global supply. At 08:45 ET (12:45 GMT), Brent oil futures for October rose 0.5% to $65.94 a barrel, while West Texas...
On April 6, the Sunday after Donald Trump announced the "Liberation Day" tariffs, Treasury Secretary Scott Bessent joined the president on his...
US President Donald Trump, in his speech on Monday night (August 11th), expressed his determination to "liberate" Washington, D.C., from crime,...
European stocks closed sharply higher on Wednesday, their highest in two weeks as the outlook of lower interest rates in the United States and the...
Richmond Fed President Thomas Barkin believes that consumer spending behavior—now increasingly selective and inclined to "trade down"—can mitigate...