

others
Pound Sterling advances as US Dollar edges down ahead of Fed policy meeting – Crypto News
- The Pound Sterling rises to a two-week high near 1.2550 amid an improved market mood.
- Investors see the BoE pivoting to interest rate cuts in the June or August meeting.
- The Fed’s policy decision on Wednesday and the NFP report on Friday will be the key events this week.
The Pound Sterling (GBP) hits a fresh two-week high against the US Dollar (USD) near 1.2550 in Monday’s early American session. The GBP/USD pair advances due to cheerful market sentiment and a decline in the US Dollar. The Cable strengthens as mixed guidance from Bank of England (BoE) policymakers over the inflation outlook increases uncertainty about when the BoE will start its interest rate cuts cycle.
BoE Deputy Governor Dave Ramsden said in mid-April that the risks of inflation remaining elevated have receded. Ramsden predicted headline inflation would return to the 2% target in May and said it would likely remain at this level for the next two years.
On the contrary, a few other BoE policymakers, such as Chief Economist Huw Pill, Jonathan Haskel, and Catherine Mann, aren’t that optimistic about the inflation outlook. Most of them have referred to the core Consumer Price Index (CPI) as the preferred measure for decision-making on interest rates, which is still high due to stubborn service inflation. Last week, Pill said: “Time for cutting bank rate remains some way off.”
Financial markets are expecting that the BoE will pivot to rate cuts in the June or August meeting. “It is between June and August, and we are leaning slightly towards August on the basis that one of the key things the BoE is looking at is service inflation,” said James Smith, an economist at ING Financial Markets. “If services inflation is a little bit stickier, I think that tilts the balance a little bit further towards August over June, but it’s a pretty close call, to be honest”, he added.
Daily digest market movers: Pound Sterling rises ahead of US data-packed week
- The Pound Sterling rallies to 1.2550, capitalizing on improved market sentiment. S&P 500 futures have posted significant gains during the Asian session, suggesting an improvement in investors’ risk appetite. A slight decline in the US Dollar ahead of the Federal Reserve’s interest rate decision has also boosted the GBP/USD pair. However, firm expectations that the Fed will maintain the hawkish tone could support the US Dollar.
- The Fed is widely anticipated to hold interest rates steady in the range of 5.25%- 5.50% in its monetary policy meeting on Wednesday. Fed policymakers are expected to remain data-dependent for further decisions. The central bank will likely reiterate the need to gain more confidence before pivoting to rate cuts.
- A recent batch of consumer inflation data has not offered any relief to Fed policymakers. The United States core Personal Consumption Expenditure Price Index (PCE) data for March, released on Friday, indicated that higher service prices kept price pressures hotter than expected.
- Annually, the core PCE inflation data rose by 2.8%, higher than expectations of 2.6% and at the same pace as in February. The monthly inflation data grew parallel with the consensus and the prior release of 0.3%. The 0.3% growth in monthly core PCE is higher than needed for inflation to return to the desired rate of 2%.
- Apart from the Fed’s monetary policy decision, investors will also focus on the Institute for Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) data for April, which will be published on Wednesday. The ISM Manufacturing PMI is estimated to remain above the 50.0 threshold, which separates expansion from contraction. The factory data is seen at 50.1, lower than the prior reading of 50.3. The PMI survey by S&P Global for the same period showed a sharp decline in the scale of production and new orders due to inflationary pressures, weak demand and sufficient stock holdings at customers.
- Later this week, the US Nonfarm Payrolls (NFP) data will be the crucial event that will indicate the current status of the labor market.
Technical Analysis: Pound Sterling climbs above 1.2500
The Pound Sterling recovers losses registered in the last weeks and hovers near the neckline of the Head and Shoulder chart pattern. The neckline of the above-mentioned pattern is plotted from December 8 low around 1.2500.
The GBP/USD pair attempts to sustain above the 20-day Exponential Moving Average (EMA), at around 1.2510. The 200-day EMA, at 1.2550, is acting as a major barrier for the Pound Sterling bulls.
The 14-period Relative Strength Index (RSI) shifts into the 40.00-60.00 range, suggesting a consolidation ahead.
-
Blockchain7 days ago
Institutional Demand Surges As Ethereum Sets New Inflow Records – Crypto News
-
Blockchain7 days ago
DeFi Development Nears 1 Million Solana In Treasury – Crypto News
-
Technology6 days ago
Bitwise Crypto Index Fund Holding BTC, ETH, XRP To Convert Into ETF – Crypto News
-
Cryptocurrency1 week ago
Altseason heats up, but Bitcoin could face short-term pullback – How? – Crypto News
-
Technology1 week ago
“Decentralized Ponzi Scheme”- Gold Bug Peter Schiff Slams Landmark Crypto Bills – Crypto News
-
Cryptocurrency1 week ago
California Sheriffs Believe 74-Year-Old’s Disappearance Linked to Son’s Crypto Fortune – Crypto News
-
Business1 week ago
Vitalik Buterin Approves Gas Limit Hike, Warns Against Risky Ethereum Scaling – Crypto News
-
Blockchain7 days ago
Strategy to keep STRC Fund Pegged to $100 – Crypto News
-
Technology6 days ago
Grab up to 43% off on best selling premium laptops from Apple, Asus and more – Crypto News
-
Technology1 week ago
Breaking: GENIUS Act Becomes First Major Crypto Legislation as Trump Signs Bill – Crypto News
-
De-fi1 week ago
Crypto Market Cap Hits $4 Trillion Milestone as US House Passes Landmark Bills – Crypto News
-
Cryptocurrency1 week ago
Shytoshi Kusama Breaks Silence on New SHIB AI Whitepaper and Transformed Future – Crypto News
-
Cryptocurrency1 week ago
Sanctum acquires Ironforge, plots transaction infrastructure vertical – Crypto News
-
Cryptocurrency1 week ago
XRP Price Hits All-Time High at $3.66 — Can It Smash Through $4 After Trump Win & SEC Shake-Up? – Crypto News
-
Blockchain1 week ago
How to Use Google Gemini to Turn Crypto News Into Trade Signals – Crypto News
-
others1 week ago
EUR/CHF rises on speculation of SNB intervention, but EU–US trade risks cap gains – Crypto News
-
Blockchain1 week ago
To The Moon? Justin Sun To Be Launched Into Space After $28M Bid – Crypto News
-
Cryptocurrency7 days ago
Solana Clinches 5-Month High, Where to From Here? – Crypto News
-
De-fi7 days ago
Galaxy Digital Claims Futarchy Model Can Give DAOs ‘Stronger Chance of Success’ – Crypto News
-
Blockchain6 days ago
Crypto Needs Minimum Viable Decentralization – Crypto News
-
Cryptocurrency3 days ago
ETH to Lead BTC Over Next 6 Months, Says Galaxy CEO – Crypto News
-
Cryptocurrency1 week ago
US House passes three key crypto bills; market reaction muted as Bitcoin dips – Crypto News
-
De-fi1 week ago
Crypto Market Cap Hits $4 Trillion Milestone as US House Passes Landmark Bills – Crypto News
-
others1 week ago
Streaming Service Handing $3,400,000 To Current and Former Customers To Settle Illegal Data Harvesting Allegations – Crypto News
-
Business1 week ago
XRP ETF Approval Odds Rise to 86% Following ProShares Launch Success – Crypto News
-
Cryptocurrency1 week ago
Arthur Hayes-linked wallet bags $2M worth of AAVE and LDO in an OTC deal – Crypto News
-
others1 week ago
Why Is The Crypto Market Rising Today? – Crypto News
-
Business1 week ago
Expert Predicts XRP Price to Hit $45 as XRP Ledger Activity Soars and SWIFT Volume Declines – Crypto News
-
others1 week ago
Breaking: Polymarket Reenters US Market With Exchange Acquisition As Probe Ends – Crypto News
-
others7 days ago
Venture Capital Firms Launch $360,000,000 Crypto Treasury Company Focused on Arthur Hayes-Backed Ethena (ENA) – Crypto News
-
others7 days ago
Gold extends gains as trade uncertainty weighs on the US Dollar – Crypto News
-
Cryptocurrency7 days ago
Ethereum Shatters Inflow Records, Pulls in $2.12 Billion in a Week – Crypto News
-
Technology7 days ago
BitOrigin Begins $500M Dogecoin Treasury With 40.5M Buy, Analysts Predict Fresh Bull Cycle – Crypto News
-
Blockchain6 days ago
XRP Could Skyrocket 500% Against Bitcoin, Analyst Warns – Crypto News
-
Technology6 days ago
Alibaba launches its ‘most advanced’ open-source AI model Qwen3-Coder — All you need to know – Crypto News
-
Cryptocurrency1 week ago
Ethereum price surges 6% to $2,800 as shorts suffer amid $500M crypto liquidation – Crypto News
-
Technology1 week ago
OnePlus Pad 3 with Snapdragon 8 Elite SoC makes its India debut, set to go on first sale in September – Crypto News
-
Cryptocurrency1 week ago
Friday charts: Fiscal dominance and super intelligence – Crypto News
-
De-fi1 week ago
Trump’s Crypto Assets Now Comprise a Key Part of Family Fortune Worth Billions – Crypto News
-
Business1 week ago
Pi Coin Price Technical Analysis Confirms Buy Signal Despite 2M Exchange Inflows – Crypto News
-
Technology1 week ago
Not Google or Bing! This search engine lets you block AI images in search results – Crypto News
-
Cryptocurrency1 week ago
GENIUS Act Is The Catalyst For XRP And RLUSD’s Dominance, Expert Declares – Crypto News
-
De-fi1 week ago
Nasdaq Files to Add Staking to BlackRock’s ETH ETF – Crypto News
-
Cryptocurrency1 week ago
Bitcoin Darknet Giant Abacus Vanishes – Crypto News
-
Technology1 week ago
Galaxy Watch 8 and Watch 8 Classic go on sale in India: Check price, variants and offers – Crypto News
-
Blockchain7 days ago
Bitcoin Reserves On Exchanges Hit Highest Level Since June 25 – Crypto News
-
Technology6 days ago
Breaking: $549 Billion PNC Bank Partners Coinbase to Offer Crypto Services – Crypto News
-
De-fi1 week ago
‘Made in USA’ Crypto Coins Surge as Trump Signs Stablecoin GENIUS Act – Crypto News
-
Cryptocurrency1 week ago
Pump.fun’s PUMP Token Falls Below ICO Price, How Low Will Price Go? – Crypto News
-
others1 week ago
Binance Airdrops, Adds Trading Support for New Blockchain Integrating Interface Token Chainbase (C) – Crypto News