GBP/USD Price Analysis: Bulls Have the Upper Hand Above 1.2800, Highest Since March
The GBP/USD pair climbs to its highest level since March 14 during the Asian session on Tuesday, albeit struggles to capitalize on the move and is currently placed just above the 1.2800 mark.
Bets on Fed rate cuts heat up, with the dollar falling to its lowest level in nearly two months.
According to the news from Zhitong Finance and Economics, the US dollar fell to its lowest level since April against the euro and the British pound on Tuesday, as signs of a weak US economy have given the Federal Reserve reason to cut interest rates in advance. The US dollar fell to a two-week low against the yen, after data showed that manufacturing activity had slowed for the second consecutive month and that construction spending had unexpectedly slipped. According to LSEG's interest rate probability application, the probability of a Fed fund futures rate cut in September has increased to around 59.1% after the data was released. As of press time, the US dollar index had fallen 0.05% to 103.99, its lowest level since April 9. By contrast, data released last Friday showed that consumer
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GBP/USD Holds Positive Ground Above 1.2800, Weaker US Manufacturing PMI Weighs on US Dollar
The GBP/USD pair attracts some buyers around 1.2810 during the early Asian session on Tuesday.
Gold Prices Surge as US Treasury Yields Drop on Soft US ISM PMI
Gold climbs over 0.80% after hitting a daily low of $2,314.
Forex Today: US Data Dominate the Mood in the FX Space
The USD Index (DXY) dropped markedly and flirted with three-week lows near the 104.00 neighbourhood. On June 4, Factory Orders take centre stage seconded by the JOLTs Job Openings and the RCM/TIPP Economic Optimism Index.
US Dollar Continues to Decline Due to Weak ISM PMI Data
On Monday, the US Dollar Index (DXY) continued its decline toward the 104.15 area mainly due to the Institute of Supply Management (ISM) PMI report for May.
How the Federal Reserve Drives the Boom-bust Cycle
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GBP/USD Price Analysis: Stays Bullish, Climbs to Four-day High
GBP/USD climbs to 1.2772, close to a four-day high of 1.2784.
Following the ISM index, selling pressure on the dollar increased and the dollar-yen fell to the lower half of 156 yen. = NY foreign exchange news.
In response to the ISM manufacturing index released at 23:00 Japan Standard Time, the USD is being sold heavily, causing the USD/JPY to drop to the mid-156 yen level. US Treasury yields are also sharply declining, pushing down the USD/JPY. The ISM manufacturing index has fallen for two consecutive months to 48.7 and has fallen further below the judgment criterion of 50. Although strong content was expected from the US regional Federal Reserve index and the US manufacturing PMI announced by S&P, the market is showing a sensitive reaction to the unexpected results. New orders, production, and employment indices all declined.
US ISM Manufacturing PMI Drops to 48.7 in May Vs. 49.6 Expected
The business activity in the US manufacturing sector contracted at an accelerating pace in May, with the ISM Manufacturing PMI dropping to 48.7 from 49.2 in April. This reading came in below the market expectation of 49.6.
US Dollar Steadies as Traders Brace for Data-packed Week
The US Dollar trades mixed against its major peers on Monday.
In May, the United Kingdom's manufacturing PMI returned to the expansion range, and factory prices reached their largest increase in a year.
According to a survey released on Monday, the United Kingdom's manufacturing industry resumed growth last month after a long period of slowdown, but rising prices by businesses may make the Bank of England cautious about cutting interest rates.
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GBP/USD Testing 1.2700 as USD Picks Up a Bid, UK Manufacturing Expands in May
Murrey Math Lines: EUR/USD, GBP/USD
EUR/USD quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend.
Dollar Trades Steady, U.S. Jobs Data Key -- Market Talk
The dollar trades steady after falling Friday following data that showed the Federal Reserve's preferred measure of inflation, the core personal consumption expenditures index, eased to 0.2% month-on-month in April from 0.3% in March.
Pound Sterling Consolidates Ahead of US ISM Manufacturing PMI Data
The Pound Sterling trades broadly unchanged near 1.2750 ahead of a US data-packed week.
The biggest engine of the US economy is starting to stall!
Against the backdrop of high interest rates, US consumer income and expenditure growth rates both declined, and the savings rate fell to a 16-month low, amplifying the possibility that the Federal Reserve would cut interest rates to a certain extent.