- The GBP/USD remains about 1,2950, cautiously, after the US PPI data left slightly below expectations at 3.2% year -on -year.
- Applications for unemployment subsidy in the US fell to 220k, highlighting the resilience of the labor market despite the mixed perspective of inflation by recent tariffs.
- Operators anticipate the United Kingdom GDP report on Friday; An intermenual 0.1% deceleration is expected.
The sterling pound remained firm in almost 1,2950 against the US dollar on Thursday after the publication of economic data in the United States (USA). Inflation and employment figures came mixed but pointed out that the economy is still solid. The GBP/USD is quoted at 1,2948, with a fall of 0.07%.
Mixed economic signals of the US keep the pound in a range; The next United Kingdom Growth Report is expected as a catalyst
The US data showed that the prices paid by the producers were mainly aligned with the estimates. The US Labor Statistics Office (BLS) revealed that the producer price index (IPP) in February was softer than expected, with 3.2% year -on -year, below the anticipated 3.3% and 3.7% of the previous month. Excluding volatile elements, the so -called underlying IPP increased by 3.4% year -on -year, below the estimates of 3.5% and a previous 3.6%.
Although the latest US inflation reports were colder than expected, tariffs imposed on imports to the US can cause inflation reactivation, with economists, estimating that prices will begin to rise in the coming months.
Other data showed that initial unemployment subsidy applications for the week that ended on March 8 fell from 222K to 220k, below the 225K forecasts.
On the other side of the puddle, the operators are attentive to the publication of the figures of the Gross Domestic Product (GDP) on Friday. It is estimated that the 3 months roll is 0.3%, above 0.1% in the previous report. January is expected to fall from 0.4% to 0.1% intermensual.
In the US, investors will digest the consumer’s feeling report at the University of Michigan (UOM) for March.
GBP/USD price forecast: technical perspective
The GBP/USD continues to quote laterally, unable to take off below/on the range of 1,2900 – 1,2950 during the last two days. The relative force index (RSI) is close to the overcompra territory, but almost flat. Therefore, the operators are waiting for a new catalyst that drives the torque outside the previously mentioned.
A bullish continuation would occur once the USD/USD exceeds 1,2950, opening the door to challenge 1.3000. On the other hand, a fall below 1,2900 would clear the way to test the minimum of the current week of 1,2860, before the simple mobile average (SMA) of 200 days in 1,2791.
LIBRA ESTERLINA PRICE TODAY
The lower table shows the percentage of pounding sterling (GBP) compared to the main currencies today. Libra sterling was the strongest currency against the Australian dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.28% | 0.16% | -0.28% | 0.20% | 0.48% | 0.37% | 0.28% | |
| EUR | -0.28% | -0.12% | -0.58% | -0.10% | 0.20% | 0.11% | -0.00% | |
| GBP | -0.16% | 0.12% | -0.46% | 0.03% | 0.32% | 0.23% | 0.15% | |
| JPY | 0.28% | 0.58% | 0.46% | 0.46% | 0.76% | 0.66% | 0.61% | |
| CAD | -0.20% | 0.10% | -0.03% | -0.46% | 0.30% | 0.19% | 0.11% | |
| Aud | -0.48% | -0.20% | -0.32% | -0.76% | -0.30% | -0.08% | -0.20% | |
| NZD | -0.37% | -0.11% | -0.23% | -0.66% | -0.19% | 0.08% | -0.05% | |
| CHF | -0.28% | 0.00% | -0.15% | -0.61% | -0.11% | 0.20% | 0.05% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the sterling pound from the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the GBP (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
