GBP/USD moves up over 1,3300 due to a weaker US dollar and United Kingdom GDP encouragement
The GBP/USD pair advances around 1,3310 during Friday’s Asian negotiation hours. The dollar weakens against the sterling pound (GBP) as negative surprises in the US economic data this week increase bets for more federal reserve cuts (FED) this year. The operators will maintain an eye in the preliminary index of consumer feeling of the University of Michigan, together with the construction permits and the beginnings of housing in the US, which will be published later on Friday.
The production prices in the US fell unexpectedly in April, since the cost of services decreased to the largest extent since 2009. The Office of Labor Statistics revealed Thursday that the US Production Price Index (IPP) rose 2.4% year -on -year in April compared to the previous 2.7%. This figure was weaker than the market expectation of 2.5%. In addition, the initial applications of unemployment subsidy in the US for the week that ended on May 10 were 229K, compared to the previous week of 229K (reviewed from 228k). This reading coincided with initial estimates. Read more…
GBP/USD remains in a consolidation pattern while the data exceeds expectations on Wednesday
The GBP/USD revolved on Thursday, subtracting some points and maintaining the offers trapped in a short -term consolidation range just below 1,3300, since the markets obtained more or less what they wanted from economic data publications during the London and America market sessions. The Gross Domestic Product (GDP) of the United Kingdom and the US Price Price Index (IPP) of the US exceeded expectations, preventing markets from moving too much in any direction.
The GDP growth of the United Kingdom for the first quarter was stronger than expected, bouncing a surprising 0.7% intertrimestral. On the US side, IPP inflation was moderated to only 0.1% intermensual in April, which allowed investors to breathe relieved, at least for now, since the impacts of tariffs have not affected the general economic data. Read more…
GBP/USD rises to 1,3300 as the United Kingdom economy grows above forecasts
The sterling pound extended its profits against the US dollar, driven by a positive reading of economic growth in the United Kingdom and softer data than expected in the US, which fed the speculation of a slower economic panorama. At the time of writing, the GBP/USD quotes at 1,3293, rising 0.31%.
The GBP/USD raises as the economy of the United Kingdom has a stronger growth than expected, while inflation and retail data of the US disappoint. The US economic data published above suggested that the disinflation process continues as the economy cools. The US Production Price Index (IPP) in April decreased an intermensual 0.5%, below the estimated expansion of 0.2%. Excluding volatile elements, the IPP fell 0.4% intermensual, below the forecasts of an increase of 0.3%. Read more…
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.
