GBP/USD softens to near 1.3500 as traders pare bets on Fed rate cut
The GBP/USD pair trades on a softer note near 1.3500 during the early European session on Tuesday. The US Dollar (USD) posts modest gains against the Pound Sterling (GBP) as traders pared bets on a rate cut at the US Federal Reserve (Fed) September 16-17 meeting. The UK July Consumer Price Index (CPI) inflation report will take center stage later on Wednesday.
A report last week showed that the US Producer Price Index (PPI) increased by the most in three years in July amid a surge in the costs of goods and services. This, in turn, prompted traders to reduce expectations of rate reduction, supporting the Greenback. The Fed is expected to cut interest rates in September and once more this year, according to most economists from the Reuters poll. Read more…
GBP/USD softens ahead of data-heavy week
GBP/USD saw a softer start to the new trading week, easing back around four-tenths of one percent through the opening market sessions. The US Dollar (USD) pared some of last week’s overall losses, trimming near-term gains for the Pound Sterling (GBP) on Monday.
The week starts on a quiet note, with little of note on the data docket. That all changes on Wednesday, with a fresh salvo of key economic data from the United Kingdom (UK) and the start of this year’s Jackson Hole Economic Symposium hosted by the Federal Reserve (Fed) Bank of Kansas. Read more…
GBP/USD holds near 1.3540 as traders await Ukraine-Russia outcome, Powell speech
GBP/USD steadies during the North American session, down a minimal 0.08% amid a scarce economic docket on both sides of the Atlantic. Nevertheless, market participants are optimistic due to a possible ceasefire or a peace agreement between Ukraine and Russia, following the Trump-Putin meeting on Friday and ahead of the talks between US President Donald Trump and Ukrainian President Volodymyr Zelenskyy later on Monday. The pair trades around 1.3540 at the time of writing.
Geopolitics are setting the tone at the beginning of the week, though US data, the Federal Reserve (Fed) Chair Jerome Powell’s speech at Jackson Hole, and inflation figures in the UK might set the tone for the week. 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.
Read More
Laine Fleishman