GBP/USD: UK housing price, employment clues prod Pound Sterling bulls above 1.2700, focus on Jackson Hole

GBP/USD buyers struggle to keep the reins after beating the bears the last week, following the four consecutive weekly declines. With this, the Cable

UK Rightmove House Price Index, employment survey from Adjuna prods Cable buyers.Monthly PMIs, central bankers’ speeches at Jackson Hole eyed for clear directions as UK recession woes challenge pair buyers.

GBP/USD buyers struggle to keep the reins after beating the bears the last week, following four consecutive weekly declines. With this, the Cable pair seesaws near 1.2740-30 amid the early hours of Monday’s Asian session after positing the first weekly gain in five. That said, the latest round of the UK housing and employment signals seem to join the market’s cautious mood ahead of this week’s top-tier data/events to prod the Pound Sterling buyers.

As per the latest survey of the UK’s job search website Adjuna, vacancies and advertised starting salaries marked their first fall of 2023 in July. That said, Adjuna co-founder Andrew Hunter mentioned, per Reuters, “Whilst it's natural to see vacancies fall during the summer months, as companies traditionally slow hiring, the early figures for July's jobs data will demonstrate to UK policymakers that inflation truly should be on a downward trajectory.

Additionally, the Rightmove House Price Index for August marked a sharp fall in the UK’s asking price for homes, down to -1.9% MoM from -0.2% prior. Details of the survey, shared by Reuters, cite the rising mortgage costs as the key catalysts for the slump in the prices. During the last week, UK Retail Sales dropped for July but the wage growth and details for inflation numbers improved for the said month, which in turn fuelled the hawkish expectations from theIt’s worth noting that the upbeat US second-tier manufacturing activity numbers,

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

FXStreetNews /  🏆 14. in US

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.

British Pound Price Action Setups: GBP/USD Bearish Head & Shoulders in FocusThe British Pound consolidated against the US Dollar this past week, with GBP/USD seemingly forming a bearish Head & Shoulders chart pattern. What are key levels to watch ahead?
Read more »

Forex analysis: AUD/JPY, AUD/USD, EUR/JPY, EUR/USD, GBP/JPY, and GBP/USD [Video]Watch the video for the key trading levels for the week ahead for AUD/JPY, AUD/USD, EUR/JPY, EUR/USD, GBP/JPY, and GBP/USD.
Read more »

A grassroots effort has a Camden neighborhood blooming with prideWith its assortment of solid, well-kept homes and others under renovation, the 2700 block of Arthur Avenue is contrary to stereotypes about Camden, NJ. New planters are adding to the appeal.
Read more »

Top Wall Street analysts pound the table on these 5 stocksTipRanks’ analyst ranking service pinpoints Wall Street’s best-performing stocks, including Amazon and Netflix.
Read more »

UFC 292 live stream: Watch Sterling vs O'Malley for free?The UFC is putting on a show tonight with UFC 292 and we've got all of the details on how to watch Sterling vs O'Malley on the main card.
Read more »

UFC 292 live: Aljamain Sterling-Sean O'Malley, Zhang Weili-Amanda Lemos updates, highlights, analysisAljamain Sterling's UFC bantamweight title reign began as a point of contention for those who didn't view him as a legitimate champion. Sterling himself was disappointed with the way he won the belt after then-champion Petr Yan landed an illegal knee against him and was disqualified during their title fight at UFC 259 on March 6, 2021.
Read more »