Pound Sterling flattens with UK budget in focus
The Pound Sterling (GBP) trades in a tight range below the psychological resistance of 1.3000 against the US Dollar (USD) in Tuesday’s London session. The GBP/USD pair consolidates as investors await a slew of United States (US) economic data, which will provide cues about the direction of the Federal Reserve’s (Fed) monetary policy by the year-end.
This week, investors will mainly focus on the first estimate of the Q3 Gross Domestic Product (GDP), the Personal Consumption Expenditure Price Index (PCE), the Nonfarm Payrolls (NFP), and the ISM Manufacturing Purchasing Managers’ Index (PMI) data to understand the current status of economic growth and inflation. Read more…
GBP/USD Foreast: Pound Sterling enters consolidation phase ahead of key risk events
GBP/USD spent the first trading day of the week moving up and down in a narrow range before closing virtually unchanged. The pair stays in a consolidation phase early Tuesday and continues to fluctuate above 1.2950.
Although the US Dollar (USD) gathered strength early Monday, GBP/USD managed to limit its losses amid a slight improvement seen in risk mood. Early Tuesday, US stock index futures trade marginally higher on the day, helping the pair hold its ground. Read more…
