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GBP/USD advances on Thursday, boosted by US PPI figures and jump on Initial Jobless Claims.UK GDP shrank 0.3% in April, biggest monthly drop since late 2022.Markets now price in 52 bps of Fed cuts by year-end, weakening USD.GBP/USD extended its gains on Thursday following the release of another inflation report in the United States (US), which increased the odds that the Federal Reserve (Fed) could resume its easing cycle sooner than expected. This, along with a rise in jobless claims, was a tailwind for Sterling, which trades at 1.3600 against the US Dollar (USD), up by over 0.47%.Sterling climbs over…

The most recent statistics from the Bureau of Labour Statistics (BLS) show that Producer Prices increased by 2.6% in May compared to the previous year. The figure was in line with forecasts but a tad higher than April’s 2.4% growth.Excluding the volatile food and energy categories, prices increased 3.0% over the past year, falling short of the prediction of 3.1% and underperforming the previous report’s 3.1% rise.On a monthly basis, both the headline and core Producer Price Index (PPI) rose 0.1%, coming in short of market expectations.Market reactionThe Greenback remains under heavy pressure on Thursday, sinking below the 98.00 support…

The Pound Sterling drops across the board as UK GDP and Industrial Production figures disappoint.UK exports to the US saw their largest monthly decline in record, despite the UK-US trade deal.Weak UK data has boosted expectations of further BoE easing.The Pound accelerates its reversal against the Japanese Yen and is nearing the bottom of the last week’s trading range, at 194.70 hammered by downbeat UK monthly GDP and manufacturing production figures.Higher taxes and Trump’s tariff turmoil hit the UK economy in April, and the GDP shrank at a 0.3% pace, its worst monthly performance since October 2023. These figures exceed…

GBP/USD gains ground to near 1.3580 in Thursday’s Asian session. Traders see the Fed will cut its borrowing costs by September.The UK monthly GDP and US PPI data will take center stage later on Thursday. The GBP/USD pair extends its upside to near 1.3580 during the Asian trading hours on Thursday. The cooler-than-expected US inflation data weighs on the US Dollar (USD) against the Pound Sterling (GBP). The UK monthly Gross Domestic Product (GDP) for April and the US Producer Price Index (PPI) report will be in the spotlight later on Thursday. Traders raise their bets that the US Federal Reserve (Fed) will…

NZD/USD edges higher to around 0.6035 in Thursday’s early European session, bolstered by the softer US Dollar.  Softer US inflation data undermines the US dollar and acts as a headwind for the pair. Trump said the trade deal with China is ‘done,’ though details from China were lacking.The NZD/USD pair gathers strength to around 0.6035 during the early Asian session on Thursday. Cooler-than-expected US inflation data and rising bets of a Federal Reserve (Fed) rate cut in September exert some selling pressure on the Greenback. The US Producer Price Index (PPI) and weekly Initial Jobless Claims will be the highlights later…

GBP/USD rises as May US CPI rose 2.4% YoY, below the 2.5% expected.Traders eye Thursday’s US PPI to confirm easing inflation trend.UK fiscal outlook dims as £2T budget adds to Gilt market pressure.GBP/USD advances on Wednesday during the North American session, boosted by a weaker-than-expected consumer inflation report in the United States (US), which increased speculation that the Federal Reserve (Fed) may reduce borrowing costs twice in 2025. At the time of writing, the pair trades at 1.3537, up 0.34%.Cable extends gains above 1.35 after soft US inflation print raises expectations for two Fed cuts in 2025The Consumer Price Index…

The USD/JPY forecast shows an increasing likelihood that the BoJ will delay rate hikes to next year. Talks between China and the US ended, easing trade war fears. Traders are paying close attention to the upcoming US CPI report. The USD/JPY forecast shows an increasing likelihood that the Bank of Japan will delay rate hikes to next year. Meanwhile, talks between the US and China ended with few details. At the same time, market participants are awaiting the US CPI report for clues on the future of Fed rate cuts.  –Are you interested to learn more about crypto signals? Check…

The US-China deal fails to provide any significant support to the US Dollar.The lack of details about the agreement has triggered some scepticism among the investors.Markets are increasingly cautious ahead of the US CPI release and a 10-Year US Bond auction.The Dollar featured a tepid reaction to the trade deal between the US and China. Price action has remained limited within the last four days’ trading range, with upside attempts failing to find follow-through above the 99.00 level.The world’s two major economies seem to have agreed on a “framework” to ease restrictions on rare earths trade, allowing them to return…

The rupee rose 6 paise to 85.51 against the US dollar in early trade on Wednesday, aided by strong FII inflows and a decline in global crude oil prices. The rupee could move within a range of 85.40-90 during the day, with the mid-month demand coming up for oil, defence, and government payments, forex traders said. At the interbank foreign exchange, the rupee opened at 85.53 against the greenback before inching up to 85.51, higher by 6 paise from its previous close. The domestic unit rose 9 paise to settle at 85.57 on Tuesday. “The rupee was in a range-bound,…

Gold price regains positive traction following the previous day’s range-bound price moves.Trade-related uncertainties and geopolitical risks underpin the safe-haven precious metal. A modest USD strength might cap the XAU/USD ahead of the critical US inflation figures.Gold price (XAU/USD) attracts fresh buyers during the Asian session on Wednesday and climbs back above the $3,340 level in the last hour, closer to the weekly high touched the previous day. A federal appeals court ruled on Tuesday that US President Donald Trump’s sweeping tariffs can temporarily stay in effect, adding another twist to the trade saga. This, along with rising geopolitical tensions, is…