GBP/USD eyes the GDP release for October

When are the UK data releases and how could they affect GBP/USD?

The United Kingdom (UK) economic docket features the monthly Gross Domestic Product (GDP) print for October and Industrial Production figures, to be published by the Office for National Statistics (ONS) this Thursday at 07:00 GMT.

The UK economy is expected to have registered a modest 0.1% growth in October, compared to the 0.1% contraction recorded in the previous month. Meanwhile, the UK Industrial Production is seen rising 0.7% MoM after declining 2% in September, while the annual output is anticipated to fall 1.2% during the reported month, following a 2.5% decline in the previous month. Read more…

GBP/USD steadies at fresh near-term highs

GBP/USD is holding firmly in bullish territory heading into the tail end of the week, but Cable bidders ran into a technical resistance point at the 1.3400 handle on Thursday. The Federal Reserve (Fed) delivered a third straight interest rate cut this week, bolstering broad-market risk appetite and pushing the US Dollar (USD) into the low side across the board.

Fed Chair Jerome Powell cautioned following the Fed’s latest interest rate trim that further moves on rates are less than likely heading into 2026, and the majority of Fed policymakers see barely two more interest rate cuts over the next two years. Markets responded by ramping up bets that the Fed will get bullied into a faster pace of interest rate cuts through next year. Read more…

GBP/USD climbs above 1.34 as Fed cut and soft data weigh on US Dollar

The Pound Sterling (GBP) rallies during the North American session on Thursday, up over 0.68% after the Federal Reserve (Fed) delivered a 25-basis-point rate cut and a softer-than-expected jobs report, which weighed on the US Dollar (USD). At the time of writing, GBP/USD trades at 1.3417, its highest level in the last six weeks.

US Initial Jobless Claims for the week ending December 6 increased by 236K, up from the previous week’s upwardly revised figure of 192K, reported the Department of Labor. Continuing Claims for the week ending November 29 dipped from 1.937 million to 1.838 million. Read more…