The Pound Sterling (GBP) trades slightly lower but retains most of its weekly gains as UK data show mixed industrial performance and a wider trade deficit.
The Pound Sterling trades slightly lower but retains most of its weekly gains as UK data show mixed industrial performance and a wider trade deficit. Attention now shifts to next week’s jobs, CPI, and the Bank of England meeting, with markets closely watching guidance on future easing, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
UK industrial and manufacturing data offer mixed signals'The pound is soft, trading with a marginal 0.1% decline from Thursday’s close while holding on to most of its weekly gain vs. the USD.''Friday’s domestic releases included a mixed set of industrial and manufacturing production releases, with a modest surprise in the former outshined by a slightly greater disappointment in the latter. UK trade figures revealed a wider than expected trade deficit, albeit one that was highly impacted by the price of precious metals. The ex-metals balance surprised to the upside coming in with narrower than expected deficit.' 'Focus now turns to next week’s events and releases, including jobs data on Tuesday, CPI on Wednesday, and the BoE on Thursday. A 25bpt cut is widely expected and fully priced, and we see risk in the statement tone and messaging around the outlook with markets pricing in a significant amount of easing and looking somewhat vulnerable to a neutral/marginally hawkish adjustment.'
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pound Sterling softens as traders eye BoE rate cut next weekThe GBP/USD pair trades in negative territory near 1.3365 during the early European trading hours on Thursday, pressured by the rebound in the US Dollar (USD).
Read more »
Pound Sterling holds Fed-related gains ahead of UK monthly GDP dataThe Pound Sterling (GBP) trades cautiously against its major peers on Thursday, broadly holding the gains after the Fed rate cut, as investors prepare for the release of key United Kingdom (UK) economic data before the Bank of England (BoE) decision next week.
Read more »
GBP/USD climbs above 1.34 as Fed cut and soft US data weigh on DollarSterling rallies during the North American session, up over 0.68% after the Federal Reserve delivered as expected a 25-basis points rate cut and a softer than expected jobs report, weighed on the Dollar. At the time of writing, the GBP/USD trades at 1.3417 after bouncing off daily lows of 1.3354.
Read more »
GBP/USD Holds Bullish Ground Amidst Fed Rate Cuts, UK Data Releases AheadThe GBP/USD currency pair is showing a bullish bias following the Federal Reserve's interest rate cut. Market attention is now directed toward a flurry of UK economic data releases scheduled for next week, including labor statistics, CPI, and the Bank of England's interest rate decision. The pair faced technical resistance at 1.3400. The Fed's rate cut and upcoming UK data will be crucial for the pair's trajectory.
Read more »
Pound Sterling drops as UK GDP unexpectedly contracts in OctoberThe Pound Sterling (GBP) faces selling pressure against its major peers on Friday following the release of the United Kingdom (UK) Gross Domestic Product (GDP) data for October. The GDP report showed that the economic growth contracted again by 0.1%, missing expectations of a 0.1% expansion.
Read more »
EUR/GBP steady as German inflation holds, UK GDP fuels BoE easing betsEUR/GBP trades without a clear direction on Friday, hovering around 0.8760 at the time of writing, with the pair remaining stable despite contrasting macroeconomic developments between the Eurozone and the United Kingdom.
Read more »