When are the UK data releases and how could they affect GBP/USD?
Thursday’s UK economic docket features the release of the monthly GDP print, alongside the Trade Balance and Industrial Production, all of which will be published by the Office for National Statistics (ONS) at 06:00 GMT.
The UK economy is expected to have expanded by 0.1% in February, up from a flat reading in the previous month. Meanwhile, the Manufacturing Production, which makes up around 80% of total Industrial Production, is anticipated to show a 0.3% MoM rise, up from a modest of 0.1% increase in January. Meanwhile, the total Industrial Production seems to be coming in at 0.0% MoM in February as compared to the previous reading of -0.1%. Read more…
Pound Sterling receives support as Middle East tensions ease
GBP/USD has rebounded from the modest losses recorded in the previous day, hovering near 1.3570 during Asian trading hours on Thursday. The pair advances as market sentiment improves, driven by expectations of a potential de-escalation in the Middle East conflict.
US President Donald Trump stated that the war was “close to over.” Reports, including those from Bloomberg, indicated speculation about a possible two-week extension of a ceasefire, although Trump dismissed the necessity of such a move, citing ongoing negotiations aimed at ending the conflict. Nevertheless, uncertainty remains after Washington revealed plans to deploy an additional 10,000 troops to the region. Read more…
GBP/USD holds near 1.3570 as Iran talk optimism cools
The GBP/USD pair halts its advance on Wednesday and remains steady around 1.3570 as optimism about a resumption of US-Iran talks has tempered. At the same time, US equities extended their gains, and the Greenback seems to have bottomed after hitting a six-week low.
Sentiment remains positive, a headwind for the safe-haven appeal of the US Dollar (USD). News that the US-Iran ceasefire could extend for another couple of weeks was cheered by Wall Street, while US President Donald Trump said the war with Iran is near the end, adding that “amazing two days” lie ahead, hinting that both parties could be close to an agreement. Read more…
