Trading & Financial News
No Result
View All Result
Friday, September 12, 2025
  • Login
  • Economy
  • Markets
  • Forex News
  • Investing
  • Stock Trading
  • Crypto
Subscribe
Trading & Financial News
  • Economy
  • Markets
  • Forex News
  • Investing
  • Stock Trading
  • Crypto
No Result
View All Result
Trading & Financial News
No Result
View All Result
Home Forex News

Sterling advances against dollar after UK GDP data beats expectations By Investing.com

by Tradinghow
November 13, 2023
in Forex News
A A
0
Sterling advances against dollar after UK GDP data beats expectations By Investing.com
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter
https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB


© Reuters.

The British pound gained ground against the US dollar on Friday, buoyed by stronger-than-anticipated UK Gross Domestic Product (GDP) figures and a softer dollar. The pair maintained its upward trajectory for the second day in a row, trading around 1.2230.

The UK’s GDP for the third quarter remained steady, defying market expectations of a slight contraction of 0.1%. Instead, the economy showed no change from the previous quarter, with year-on-year growth at 0.6%, which was also higher than the forecasted 0.5%. These positive developments came despite concerns over the UK’s economic outlook, as signs point towards a challenging period of stagflation, characterized by high inflation coupled with rising unemployment levels.

In contrast, sentiment in the US appeared more cautious following Federal Reserve Chair Jerome Powell’s remarks on Thursday. Powell expressed doubts about the effectiveness of current policies in achieving the central bank’s 2% inflation target, indicating a hawkish stance that suggests further interest rate hikes could be on the horizon.

Adding to the cautious mood, preliminary data released on Friday showed a decline in US consumer sentiment. The University of Michigan’s Consumer Sentiment Index dropped from 63.8 to 60.4 in November, reflecting increased consumer concerns.

Looking ahead to next week, significant economic data releases are expected to influence currency markets. Traders are particularly focused on upcoming UK employment and inflation reports due Tuesday, as well as the US Consumer Price Index (CPI), which will provide fresh insights into inflationary trends and potentially guide central bank policy decisions.

The past week saw volatility in the GBP/USD exchange rate amid mixed signals from central banks and economic data releases. The Bank of England hinted at possible interest rate hikes through hawkish comments, while concerns over the UK economy’s health led to a slight retreat in Sterling, closing the week at $1.2211.

In addition to domestic factors, global events also played a role in currency fluctuations. Early last week, China reported an unexpected narrowing of its trade surplus, triggering a flight to safety that initially bolstered the US dollar. However, subdued comments from the Federal Reserve and weaker-than-expected US employment figures later softened the dollar’s strength.

Market participants are now bracing for next week’s key economic indicators from both sides of the Atlantic. Inflation figures will be closely watched, with US annual core inflation expected to hold at 4.1%, potentially reinforcing bets on Federal Reserve rate hikes and supporting the dollar. On the other hand, a forecasted decrease in UK core inflation from 6.1% to 5.8% could lessen expectations for Bank of England rate increases and weigh on Sterling. The UK’s forthcoming employment data will also be scrutinized for its impact on currency volatility.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.



Source link

  • Trending
  • Comments
  • Latest
The Evolving International Cannabis Landscape

The Evolving International Cannabis Landscape

March 20, 2024
UK Faces Two Decades of No Earnings Growth and More Austerity

UK Faces Two Decades of No Earnings Growth and More Austerity

July 29, 2023
Uniswap Launches Permissionless Bridging Across 9 Networks

Uniswap Launches Permissionless Bridging Across 9 Networks

October 24, 2024
China tech groups lead multibillion-dollar campaign to help exporters sell at home

China tech groups lead multibillion-dollar campaign to help exporters sell at home

April 20, 2025
High Street Retailers Pin Hopes On Discount Splurge In Black Friday Fever

High Street Retailers Pin Hopes On Discount Splurge In Black Friday Fever

0
UK Faces Two Decades of No Earnings Growth and More Austerity

UK Faces Two Decades of No Earnings Growth and More Austerity

0
Learn how to trade. For beginners

Learn how to trade. For beginners

0
Trading for beginners

Trading for beginners

0
The T “Wealth Transfer” Coming for the Housing Market

The $84T “Wealth Transfer” Coming for the Housing Market

September 12, 2025
Fuel scarcity crisis averted as fuel depots in Africa’s largest market reopen

Fuel scarcity crisis averted as fuel depots in Africa’s largest market reopen

September 11, 2025
Bessent is pushing an agenda of a smaller Fed balance sheet — report

Bessent is pushing an agenda of a smaller Fed balance sheet — report

September 11, 2025
Adani Power shares rise 0.72%; secures additional 800 MW capacity from Madhya Pradesh 

Adani Power shares rise 0.72%; secures additional 800 MW capacity from Madhya Pradesh 

September 11, 2025

Recent News

The T “Wealth Transfer” Coming for the Housing Market

The $84T “Wealth Transfer” Coming for the Housing Market

September 12, 2025
Fuel scarcity crisis averted as fuel depots in Africa’s largest market reopen

Fuel scarcity crisis averted as fuel depots in Africa’s largest market reopen

September 11, 2025

Categories

  • Business
  • Crypto
  • Economy
  • Forex News
  • Investing
  • Markets
  • More
  • Stock Trading
  • Trading for beginners

Site Navigation

  • Home
  • Contact Us
  • Stock Trading
  • Markets
  • Investing
  • Other Links
  • Privacy & Policy
Trading & Financial News

We bring you the fastest breaking news on Trading, forex, and finance submitted from credible and reliable news sources around the world.

© 2023 Tradinghow Useful forex analysis and financial news, submitted by credible news sources around the world.tradinghow.

No Result
View All Result
  • Contact Us
  • Home
  • Economy
  • Crypto
  • Investing
  • Markets
  • Forex News
  • Stock Trading

© 2023 Tradinghow Useful forex analysis and financial news, submitted by credible news sources around the world.tradinghow.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In