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Data on Wednesday showed that the UK economy grew at a rate of 0.2% in January. Market participants expect the first BoE cut in June. Investors are awaiting the US Producer Price Index (PPI) report. Today’s GBP/USD forecast is slightly bullish after UK data revealed economic growth in January following a brief recession. Meanwhile, investors…
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British wages minus bonuses grew much slower than expected. Investors expect a bigger 74bps of cuts by the BoE this year. Investors are preparing to receive the US CPI report showing the state of consumer inflation. This Tuesday, the GBP/USD price analysis takes a bearish turn as soft UK labor market data fuels BoE rate…
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The bias remains bullish despite temporary retreats. The US inflation should move the markets tomorrow. Failing to stay above the upper median line signaled exhausted buyers. The GBP/USD price turned to the downside after reaching a high of 1.2893 on Friday. The pair is trading at 1.2820 at the time of writing. The pair is…
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There is a higher chance the Fed will cut rates by the end of the year. There is a divergence in policy outlooks between the Fed and the BoE. The dollar weakened after a mixed employment report. The GBP/USD weekly forecast leans bullish as market participants expect the Fed to cut rates much earlier than…
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UK house prices rose for the first time in over a year in February. BoE chief economist Huw Pill said he did not expect rate cuts soon. The US manufacturing PMI dropped to 47.8 in February. The GBP/USD outlook took on a bullish hue as the pair continued its upward trajectory on Monday, propelled by…
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Investors were positioning themselves ahead of the core PCE price index. Consumer confidence in the US fell amid fears about the economy’s outlook. Economists expect the core PCE price index to increase by 0.4%. Wednesday’s GBP/USD forecast unveils a bearish outlook, spurred by the dollar’s surge in anticipation of key inflation data. Investors positioned themselves…
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The pound extended gains made on Friday due to upbeat retail sales data. The dollar was weaker as markets in the US closed for the President’s Day holiday. This week, traders will focus on the FOMC meeting minutes and speeches from Fed policymakers. Monday’s GBP/USD forecast showed a bullish outlook, driven by the pound’s continued…
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Annual inflation in the UK maintained at the rate of 4.0%. The US released an upbeat inflation report showing persistent inflation. The possible timing for Fed rate cuts has gradually moved from March to May and now June. Today’s GBP/USD forecast paints a bearish outlook as the currency dips following the news of stable UK…
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The downside pressure on the GBP/USD price is high after registering false breakouts. The US inflation figures should move the rate tomorrow. The lower median line (LML) could attract the rate. The GBP/USD price climbed as high as 1.2654 today, meeting strong resistance. The pair has turned to the downside and is trading at 1.2616….
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The dollar was on the front foot after Powell’s hawkish speech. BoE policymaker Jonathan Haskel said he would need more evidence that inflation was cooling. The US and the UK will release major reports featuring inflation and retail sales. The GBP/USD weekly forecast has a neutral stance as both the pound and the dollar are…
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Robust economic indicators affirmed the strength of the US economy. There was a surge in business activity in the US services sector. Powell said rate cuts would be delayed until there was a clear indication that inflation was dropping. In the GBP/USD outlook, the narrative unfolds with a bearish tone. Fueled by positive data, the…