The post GBP/USD climbs above 1.2900 following US NFP data appeared on BitcoinEthereumNews.com.

US Nonfarm Payrolls rise to 151K, but unemployment ticks up to 4.1%. Markets price in three Fed rate cuts in 2025 amid economic uncertainty. UK traders eye GDP data next week, while US focuses on inflation and UoM sentiment. The Pound Sterling registers solid gains versus the US Dollar in early trading on Friday during the North American session, even though the latest jobs report in the United States (US) depicts the economy remains solid. Nevertheless, fears of a recession in the US keep the Greenback on the backfoot, and the GBP/USD trades at 1.2920, up over 0.30%. Sterling gains 0.30% despite NFP beat, as rising US unemployment weighs on sentiment February’s Nonfarm Payroll figures were 151K, up from January’s 125K but missing estimates of 160 K. Although the print is solid, the GBP/USD rose as the Unemployment Rate ticked up to 4.1%, above forecasts of 4%. The data doesn’t suggest that the Federal Reserve (Fed) needs to cut rates at the upcoming meeting. Nevertheless, it didn’t improve the economic outlook due to US President Donald Trump’s controversial policies, which keep businesses uncertain of planning ahead. March’s Nonfarm Payrolls data is expected to be worse due to Elon Musk’s Department of Government Efficiency (DOGE) laying off probationary federal government workers. Investors seem to be pricing a jobs market slowdown, which could exert pressure on the Fed to lower borrowing costs to fulfill its dual mandate. A Reuters poll showed that 70 out of 74 economists says the risk of recession has risen in the US, Canada, and Mexico. Money market players continued to price in three 25 basis points of rate cuts by the Fed, according to the December 2025 fed funds rate futures contract. Across the pond, the Sterling has been supported by the weakness of the US Dollar.…

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Filed under: News - @ March 7, 2025 3:30 pm