British Pound treads water above 1.3450 with markets awaiting US employment figures
The British Pound (GBP) holds marginal losses against the US Dollar (USD) on Thursday, trading at 1.3460 at the time of writing, down from Wednesday’s highs at 1.3486. This leaves the GBP/USD pair hovering within a 100-pip range, with bulls capped below 1.3500 while a weak US Dollar keeps downside attempts supported above the 1.3400 area.
The Sterling drew some support on Wednesday from an upward revision of July’s S&P Global Services PMI figures and another downbeat employment reading in the US, which cast doubts about Friday’s Nonfarm Payrolls report and cooled hopes of Federal Reserve (Fed) rate hikes further. Read more…
GBP/USD Price Forecast: Gathers strength for VCP breakout
The British Pound (GBP) trades marginally lower at around 1.3460 against the US Dollar (USD) during the European trading session on Thursday. The GBP/USD pair is expected to trade sideways as investors await the United States (US) Nonfarm Payrolls (NFP) data for July, which will be released on Friday.
Economists at Deutsche Bank expect Friday’s July payrolls report to show a further, if modest, improvement in hiring. They look for “employment growth of +65k, modestly above June’s +57k reading”. Read more…
British Pound loses ground to near 1.3450 as traders await possible US-Iran deal
The GBP/USD pair drifts lower to near 1.3460 during the early European trading hours on Thursday. Conflicting rhetoric from the US and Iranian officials about a potential deal fuels market concerns, dragging the British Pound (GBP) lower against the US Dollar (USD). The US Initial Jobless Claims report will be released later on Thursday.
US President Donald Trump said on Wednesday that he had very productive talks with Iran. Meanwhile, US Vice President JD Vance stated that deal negotiations with Iran would “be messy” and take time, saying that “the Iranians are extraordinarily difficult people” with “a fractured system.” Read more…
