Share
Markets are fully pricing in two BoE rate cuts by December. Data on Thursday revealed a bigger-than-expected expansion in the US economy. All eyes are on the US core PCE report. The GBP/USD price analysis highlights a bearish trend despite a slight recovery ahead of the US inflation data. The pound fell as investors increased…
Share
Business activity in Britain’s manufacturing sector improved more than expected. Last week, the pound reached a one-year high due to a decline in BoE rate cut bets. Economists expect the US economy to expand by 2.0% in the second quarter. The GBP/USD forecast points south, although the pair recovered slightly after better-than-expected PMI data. At…
Share
The UK released data showing sales fell by 1.2%. Markets have lowered the chances of a BoE cut in August due to still-high service inflation. Joe Biden announced on Sunday that he was no longer campaigning for the November election. The GBP/USD forecast leans bearish, with the pound hovering near Friday’s lows due to a…
Share
Data showed a higher-than-expected number of unemployment claims in the UK. Average UK weekly earnings minus bonuses grew by 5.7%. The pound has gained about 2.1% in 2024 against the dollar. The GBP/USD outlook is slightly bearish as the pound retreats from recent highs after downbeat employment figures. However, the bullish trend might continue since…
Share
Inflation in the UK remained at an annual rate of 2% in June. UK services inflation came in at 5.7%. US sales were unchanged in June, better than economist expectations for a 0.3% decline. The GBP/USD price analysis shows solid bullish sentiment as the pound rallies after a higher-than-expected reading on UK inflation. Meanwhile, the…
Share
The UK economy grew faster than expected in May. BoE’s Swati Dhingra called for the central bank to start lowering borrowing costs. The likelihood of a Fed rate cut in September rose from 73% to 94%. The GBP/USD outlook leans bullish as the pound extends last week’s rally after positive UK data. Meanwhile, the dollar…
Share
The UK GDP rose by 0.4% in May, above estimates of 0.2%. Services inflation and wage growth in the UK remain high. Investors are waiting to see the US consumer inflation report for June. The GBP/USD outlook points North as the pound rallies after data revealed a bigger-than-expected expansion in the UK economy in May….
Share
Pound bulls cheered a Labour Party win last Thursday. The new UK finance minister, Rachel Reeves, will speak on Monday. The US will release consumer and producer inflation figures this week. The GBP/USD outlook is bullish as the pound extends its rally after the Labour Party won last week’s UK elections. Meanwhile, the dollar remains…
Share
The dollar was on the back foot on Friday after a week of poor economic data. Economists expect the US economy to add 191,000 jobs in June. Investors cheered a looming Labour Party majority win in the UK. The GBP/USD outlook shows an uptrend, with the dollar easing ahead of the US monthly employment report….
Share
Private employers in the US hired fewer workers than expected in June. There was an unexpected increase in unemployment claims from 234,000 to 238,000. The UK service sector declined by a smaller margin than expected. The GBP/USD forecast points north, with the dollar frail after several downbeat economic reports in the previous session. Meanwhile, the…
Share
The greenback is heading for a second quarter of gains due to a drop in Fed rate cut expectations. Market participants will pay close attention to the PCE price index report. The US GDP rose from 1.3% to 1.4%, as expected. The GBP/USD outlook remains bearish, even with a slight rebound, as investors eagerly await…