The post GBP/USD climbs on UK fiscal changes, stalls at 100-day SMA appeared on BitcoinEthereumNews.com.

GBP/USD Price Forecast: Climbs on UK fiscal changes, stalls at 100-day SMA The Pound Sterling recovered some ground against the Greenback after UK GILTS yields jumped after Chancellor Reeves confirmed that a change to UK fiscal rules would help fund GBP 20 billion in investment. At the time of writing, the GBP/USD trade was 1.2974, up by 0.41%. Read More… Pound Sterling gains on BoE Mann’s hawkish gudiance, UK PMI expands again The Pound Sterling (GBP) outperforms its major peers in Thursday’s North American session after the release of the preliminary United Kingdom (UK) S&P Global/CIPS Purchasing Managers Index (PMI) data for October. However, the initial reaction was on the weaker side. The flash PMI report showed that the output expanded but at a slower-than-expected pace in manufacturing as well as the service sector. The Composite PMI grew at a modest pace to 51.7 from 52.6 in September. Read More… GBP/USD trades below 1.2950 near 10-week lows, PMI figures awaited The GBP/USD pair trades around 1.2930 during the Asian session on Thursday, staying near its 10-week low of 1.2907 reached on Wednesday. Traders are likely to focus on the Purchasing Managers Index (PMI) figures from both the United Kingdom (UK) and the United States (US), which are scheduled for release during the day. Read More…     Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-climbs-on-uk-fiscal-changes-stalls-at-100-day-sma-202410241636

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Filed under: News - @ October 24, 2024 5:21 pm