logo

GBP/USD attracts some buyers to near 1.3310 on Friday

By: bitcoin ethereum news|2025/05/16 14:30:07
0
Share
copy
GBP/USD drifts higher above 1.3300 on softer US Dollar, upbeat UK GDP data The GBP/USD pair edges higher to around 1.3310 during the Asian trading hours on Friday. The Greenback weakens against the Pound Sterling (GBP) as downside surprises in the US economic data this week raise bets of more Federal Reserve (Fed) rate cuts this year. Traders will keep an eye on the preliminary University of Michigan Consumer Sentiment Index, along with the US Building Permits, Housing Starts, which are due later on Friday. US producer prices unexpectedly declined in April as the cost of services fell by the most since 2009. The Bureau of Labor Statistics on Thursday revealed that the US Producer Price Index (PPI) rose 2.4% YoY in April versus 2.7% prior. This figure came in weaker than the market expectation of 2.5%. Additionally, the US Initial Jobless Claims for the week ending May 10 came in at 229K, compared to the previous week of 229K (revised from 228K). This reading matched initial estimates. Read more... GBP/USD holds in consolidation pattern as data beats expectations on Wednesday GBP/USD turned lower on Thursday, shaving off a few points and keeping bids stuck to a near-term consolidation range just south of 1.3300 as markets got more or less what they wanted from economic data releases during both the London and American market sessions. United Kingdom (UK) Gross Domestic Product and United States (US) Producer Price Index (PPI) inflation both beat the street, preventing markets from moving too far in either direction. UK GDP growth for the first quarter came in stronger than expected, bouncing to a surprising 0.7% QoQ. On the US side, PPI inflation eased to just 0.1% MoM in April and giving investors to breathe a sigh of relief, at least for now, that tariff impacts haven’t hit headline economic data. Read more... GBP/USD rises towards 1.3300 as UK economy grows above forecasts The Pound Sterling extended its gains against the US Dollar, driven by a positive reading of economic growth in the UK and softer-than-expected data in the US, which fueled speculation of a slower economic outlook. At the time of writing, the GBP/USD trades at 1.3293, up 0.31%. GBP/USD climbs as UK economy posts stronger-than-expected growth while US inflation and retail data disappoint. US economic data released earlier suggested that the disinflationary process continues as the economy cools. The US Producer Price Index (PPI) in April declined 0.5% MoM, below the estimated 0.2% expansion. Excluding volatile items, PPI fell 0.4% MoM beneath forecasts of a 0.3% increase. Read more... Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-attracts-some-buyers-to-near-13310-on-friday-202505160531

You may also like

Naval personally takes the stage: The historic collision between ordinary people and venture capital

Naval personally stepped in as the chairman of the USVC Investment Committee. This SEC-registered fund launched by AngelList attempts to bring top private tech assets like OpenAI, Anthropic, and xAI to the general public with a $500 entry threshold. It is not just a new fund, but a structural experi...

a16z Crypto: 9 Charts to Understand the Evolution Trends of Stablecoins

Stablecoins are evolving from trading tools into universal payment infrastructure, and this process is quieter and more thorough than most people expected.

Refutation of Yang Haipo's "The End of Cryptocurrency"

This may be the true test of cryptocurrency. It's not about whether the price has reached a new high, nor about who will achieve financial freedom in the next bull market, but rather whether, after all the grand narratives have been washed away by cycles, it can still leave behind some simpler, more...

Can a hairdryer earn $34,000? Interpreting the reflexivity paradox of prediction markets

Prediction markets are essentially betting on reality, and when participants can access or even influence this path earlier, the market no longer just reflects reality but begins to shape it in return.

6MV Founder: In 2026, the "landmark turning point" for crypto investment has arrived

"I will deploy funds in 2026, so I will tell you this is the best year in history."

Abraxas Capital Mints $2.89 Billion USDT: Liquidity Boost or Just More Stablecoin Arbitrage?

Abraxas Capital just received $2.89 billion in freshly minted USDT from Tether. Is this a bullish liquidity injection for crypto markets, or is it business as usual for a stablecoin arbitrage giant? We analyze the data and the likely impact on Bitcoin, altcoins, and DeFi.

Popular coins

Latest Crypto News

Read more