No problem — we will send you a password reset link to your registered email
Still no joy? Contact us
Thanks — all done!
Please check your inbox and follow
the instructions
Still no joy? Contact us
... and now a few questions so we can create your bespoke configuration
(we will email it to you)
You can answer the questionnaire later, or choose the default TradeRadius profile if you prefer
You Are Subscribed To TradeRadius News!
Link is expired. Please try again.
Your comment has been sent for moderation.
You are skipping the configuration step. It means we will apply default Quant Model configuration to your account. You will be able to answer the questions later. If you would like to get personalized configuration, please, answer on the questionnaire
live commentary Post
Back to Live CommentaryGBP/USD clings to gains above 1.2350, lacks follow-through ahead of US PCE Price Index
By TradeRadius | Fri, 26 May 2023 10:35:55 UTC
The GBP/USD pair gains some positive traction on Friday and snaps a three-day losing streak to the 1.2300 neighbourhood, or its lowest level since early April touched the previous day. Spot prices stick to intraday gains through the first half of the European session and currently trade around the 1.2360 region, up over 0.30% for the day.
A modest pullback in the US Treasury bond yields prompts traders to lighten their US Dollar (USD) bullish bets, especially after the recent move up to over a two-month high, which, in turn, lends support to the GBP/USD pair. The British Pound (GBP), meanwhile, gets an additional lift following the better-than-expected release of the UK Retail Sales figures, which rose 0.5% in April as compared to the 0.3% expected and the 1.2% decline registered in the previous month.
The upside for the GBP/USD pair, however, seems limited amid expectations that fewer rate increases by the Bank of England (BoE) will be needed in the coming months to bring down inflation. The bets were reaffirmed by the fact that the UK CPI decelerated sharply from the 10.1% YoY rate in March to 8.7% in April. Furthermore, speculations that the Federal Reserve (Fed) will keep interest rates higher for longer favour the USD bulls and might cap the major.
In fact, the markets started pricing in the possibility of another 25 bps lift-off at the June FOMC policy meeting in the wake of the recent hawkish comments by several Fed officials. Adding to this, the upbeat US macro data released on Thursday could allow the Fed to stick to its hawkish stance. This should act as a tailwind for the US bond yields, which supports prospects for the emergence of some USD dip-buying and contribute to keeping a lid on the GBP/USD pair.
Traders might also refrain from placing aggressive bets and prefer to wait on the sidelines ahead of the release of the US Core PCE Price Index - the Fed's preferred inflation gauge - later during the early North American session. Friday's US economic docket also features the release of Durable Goods Orders, which, along with the US bond yields and the US debt ceiling talks, will influence the USD and provide some meaningful impetus to the GBP/USD pair.
Partners News
Gold Consolidates Ahead of US PCE Report; Euro Up on Rate Cut Bets; Bitcoin Slips
The gold (XAU) price gained 0.69% on Thursday as the (DXY) dropped following the release of a weaker-than-expected US Gross Domestic Product (GDP) report. Although the US GDP report revealed smaller-than-expected growth in output in Q1, it also indicated persistent inflation. Consequently, the ...
By TradeRadius | 5 Minutes Ago
Congress approved a TikTok ban. Why it could still be years before it takes effect.
TikTok’s fate in the U.S. has never been more in doubt after Congress approved a bill that gives its parent company two options: sell it to an approved buyer or see it banned. President Joe Biden signed the legislation into law on Wednesday.
By TradeRadius | 5 Minutes Ago
Tesla sees biggest drop in revenue in over a decade
IE 11 is not supported. For an optimal experience visit our site on another browser. April 24, 202404:09 Investing, credit scores, more: Separating financial myth from fact 03:29 Federal Trade Commission votes to ban most noncompete agreements 03:31
By TradeRadius | 6 Minutes Ago
USD/JPY: Japanese Yen Volatile After Inflation, BoJ Meeting
The Japanese yen is swinging sharply on Friday. In the European session, is trading at 156.46, up 0.52%. It has been a busy Friday in Japan. Japanese inflation data, which was released just before the end of the Bank of Japan meeting, was much lower than expected. Tokyo Core CPI, which was...
By TradeRadius | 6 Minutes Ago
Spain Retail Sales Growth Eases In March
Spain's retail sales growth moderated in March after accelerating in the previous month, the statistical office INE reported on Friday. Retail sales increased by a seasonally adjusted 0.6 percent year-over-year in March, slower than the 1.8 percent gain in February. Sales have been rising since...
By TradeRadius | 14 Minutes Ago
BoJ Keeps Key Interest Rate Near Zero
The Bank of Japan left its key interest rate unchanged near zero and the bank's latest projections showed the underlying inflation staying around 2 percent that further damped expectations for aggressive tightening in future.
By TradeRadius | 15 Minutes Ago
UK Consumer Confidence Strengthens In April
British consumer sentiment improved in April on slowing inflation as well as expectations about further tax cuts, a monthly survey conducted by the market research group GfK revealed Friday. The consumer confidence index rose to -19 in April from -21 in March. The score was also better than...
By TradeRadius | 15 Minutes Ago
Google parent Alphabet delivers first-ever dividend; shares soar
Laura Martin, a Needham & Company senior research analyst, previews Alphabet's first-quarter earnings report on 'The Claman Countdown.' Google parent company Alphabet joined a handful of rival tech giants paying dividends, announcing its first-ever planned payout during its latest quarterly...
By TradeRadius | 15 Minutes Ago
Breaking the college mold: Father-daughter ironworker duo champion the rise of vocational learning
Tiffany Younk, a union ironworker, and her father, retired ironworker Robert Younk, tell Fox News Digital about their experience working together and discuss the importance of trades. Vocational enrollment is up among younger Americans as the toolbelt generation takes shape, and one...
By TradeRadius | 16 Minutes Ago
EV owner and car enthusiast says all electric push was ‘foolish’, predicts hybrids will be better transition
David Tracy, a former auto engineer and car enthusiast said 'the marketplace has spoken' and 'not everyone's ready to go fully electric.' The rapid push to adopt electric vehicles (EV) as the primary mode of transportation in American society is slowing and one auto expert and car enthusiast...
By TradeRadius | 16 Minutes Ago
Subscribe to get news