The Pound Sterling (GBP) turns volatile as investors review pack of the United States economic data, released in the early New York session. The US Bureau of Economic Analysis (BEA) has reported that the Gross Domestic Product (GDP) data expanded by 3.3% in the last quarter of 2024 while investors projected a slower growth rate of 2% against 4.9% recorded in the July-September quarter. Fresh orders for Durable Goods were stagnant in Decemebr against expaectations of 1.1%. Meanwhile, Initial Jobless Claims for the week ending January 19 were up at 214K, against expectations of 200K and the former reading of 189K. Read More…
GBP/USD experiences a downward trend, following the pullback from a recent two-week high at 1.2774 on Wednesday. During the Asian session on Thursday, the GBP/USD pair trades lower near 1.2710. The Pound Sterling (GBP) initially received support following positive Purchasing Managers Index (PMI) data from the United Kingdom (UK). However, this upward momentum could not be sustained after the release of upbeat PMI data from the United States (US). Read More…
The GBP/USD pair posts modest gains during the early Asian trading hours on Thursday. The major pair reclaims above the 1.2700 mark on the back of the risk-on sentiment. Nonetheless, the release of the preliminary US GDP growth numbers for the fourth quarter (Q4) on Thursday might trigger volatility in the market. At press time, GBP/USD is trading at 1.2717, up 0.01% on the day. Read More…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-pound-sterling-remains-unsettled-despite-robust-us-q4-gdp-growth-202401251957