* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, July 15, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Review: At the Huntington, the New Hollywood String Quartet recalls legendary studio musicians – Los Angeles Times

    Review: At the Huntington, the New Hollywood String Quartet recalls legendary studio musicians – Los Angeles Times

    Kehoe repeals paid sick leave, allows several counties in the Ozarks to have entertainment districts in bill signings – KY3

    Kehoe repeals paid sick leave, allows several counties in the Ozarks to have entertainment districts in bill signings – KY3

    Emily Deschanel was scolded during “Bones” season 1 for being ‘late and unprepared’: ‘I was just beside myself’ – Yahoo

    Emily Deschanel was scolded during “Bones” season 1 for being ‘late and unprepared’: ‘I was just beside myself’ – Yahoo

    How you can see new movies early – Yahoo

    Unlock the Secret to Watching New Movies Before Everyone Else!

    Immersive sports and entertainment venue Cosm set to build its 5th location in Cleveland – WKYC

    Cosm Reveals Exciting Vision for Its 5th Immersive Sports and Entertainment Venue in Cleveland

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Sentrycs’ Cyber Over RF technology integrated into Rafael’s combat-proven Drone Dome system – Defence Industry Europe

    Sentrycs’ Cyber Over RF Technology Boosts Rafael’s Battle-Tested Drone Dome System

    Nordic Air Defence raises $3 million to expand operations and advance drone defence technology – Defence Industry Europe

    Nordic Air Defence Lands $3 Million to Transform Drone Defense and Supercharge Operations

    China’s energy dominance in three charts – MIT Technology Review

    How China Is Powering Its Energy Dominance: A Visual Breakdown

    Meta Acquires AI Startup PlayAI to Enhance Voice Technology Capa – GuruFocus

    Meta Acquires AI Startup PlayAI to Revolutionize Voice Technology Capabilities

    Stallion Uranium Provides Update on Technology Data Acquisition Agreement – GlobeNewswire

    Stallion Uranium Announces Exciting Progress in Technology Data Acquisition Agreement

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Review: At the Huntington, the New Hollywood String Quartet recalls legendary studio musicians – Los Angeles Times

    Review: At the Huntington, the New Hollywood String Quartet recalls legendary studio musicians – Los Angeles Times

    Kehoe repeals paid sick leave, allows several counties in the Ozarks to have entertainment districts in bill signings – KY3

    Kehoe repeals paid sick leave, allows several counties in the Ozarks to have entertainment districts in bill signings – KY3

    Emily Deschanel was scolded during “Bones” season 1 for being ‘late and unprepared’: ‘I was just beside myself’ – Yahoo

    Emily Deschanel was scolded during “Bones” season 1 for being ‘late and unprepared’: ‘I was just beside myself’ – Yahoo

    How you can see new movies early – Yahoo

    Unlock the Secret to Watching New Movies Before Everyone Else!

    Immersive sports and entertainment venue Cosm set to build its 5th location in Cleveland – WKYC

    Cosm Reveals Exciting Vision for Its 5th Immersive Sports and Entertainment Venue in Cleveland

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Sentrycs’ Cyber Over RF technology integrated into Rafael’s combat-proven Drone Dome system – Defence Industry Europe

    Sentrycs’ Cyber Over RF Technology Boosts Rafael’s Battle-Tested Drone Dome System

    Nordic Air Defence raises $3 million to expand operations and advance drone defence technology – Defence Industry Europe

    Nordic Air Defence Lands $3 Million to Transform Drone Defense and Supercharge Operations

    China’s energy dominance in three charts – MIT Technology Review

    How China Is Powering Its Energy Dominance: A Visual Breakdown

    Meta Acquires AI Startup PlayAI to Enhance Voice Technology Capa – GuruFocus

    Meta Acquires AI Startup PlayAI to Revolutionize Voice Technology Capabilities

    Stallion Uranium Provides Update on Technology Data Acquisition Agreement – GlobeNewswire

    Stallion Uranium Announces Exciting Progress in Technology Data Acquisition Agreement

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Pound Sterling plummets as robust US job market underpins risk-aversion theme

October 6, 2023
in Business
Pound Sterling plummets as robust US job market underpins risk-aversion theme
Share on FacebookShare on Twitter

Pound Sterling slips vertically to near 1.2 as investors underpinned the risk-aversion theme.
UK economic activities were broadly vulnerable in September due to poor domestic and overseas demand.
BoE’s Broadbent remains confident about achieving price stability in two years.

The Pound Sterling (GBP) faces an intense sell-off the surprisingly upbeat United States Nonfarm Payrolls (NFP) report for September dampens investors’ risk appetite and improves the US Dollar’s appeal. The US employers hired 336K individuals, significantly higher than expectations of 170K, and revised August data of 227K. The Unemployment Rate remained unchanged at 3.8% but landed higher than expectations of 3.7%.

Earlier, the GBP/USD was struggling to climb above a three-day range high as investors seemed baffled about the United Kingdom’s inflation and economic outlook following September’s PMI data. UK firms were reluctant to utilize their full capacity and reduced hiring as higher interest rates by the Bank of England (BoE) have hit demand significantly.

Investors are not anticipating a quick revival in the UK’s overall demand as the BoE vowed to keep interest rates higher for a longer period to ensure price stability. BoE Deputy Governor Ben Broadbent sees inflation coming down to 2% in two years as restrictive monetary policy has dampened labor market and economic prospects.

Daily Digest Market Movers: Pound Sterling turns wild amid cautious market mood

Pound Sterling faces nominal selling pressure from a three-day high of 1.2196 as the market mood turns quiet ahead of crucial labor market data.
The GBP/USD pair struggles to extend its upside as investors remain worried about the UK’s economic outlook due to declining labor demand and weakening economic activities.
In September, the UK Manufacturing and Construction PMIs remained vulnerable as firms cut back on inventories and labor due to declining demand from domestic and overseas markets. The Services PMI improved significantly but remained below the 50.0 threshold.
The labor demand from UK firms has slowed due to higher wage growth. Firms restricted them from filling voluntary resignations as the cost of bringing fresh talent is extremely high.
Few businesses remained optimistic, as surveyed by S&P Global in the PMI data, as the Bank of England has paused policy tightening, but firms with higher dependency on debt are still pessimistic.
On Thursday,  S&P Global reported the UK Construction PMI at 45.0 in September, much lower than expectations of 49.9 and the former release of 50.8. A figure below the 50.0 threshold is considered a contraction.
A decline in construction spending was widely anticipated as higher mortgage rates have forced households to postpone their demand for new houses. However, the impact of weak Construction PMI data is expected to remain limited as it is relatively a smaller part of the UK economy.
Meanwhile, a positive outlook on progress in declining inflation from BoE Governor Andrew Bailey and Deputy Governor Ben Broadbent has brought relief for investors.
This week, Andrew Bailey opposed changing the 2% inflation target and remained optimistic about bringing down inflation to 5% or below by year-end.
Ben Broadbent sees the achievement of price stability in two years. He further added that there are “clear signs” that higher interest rates have hit demand and elevated the Unemployment Rate.
Meanwhile, the US Dollar recovered strongly to near 107.00 after the release of the upbeat labor market data. This has established a hawkish undertone for the Federal Reserve’s (Fed) November monetary policy.

Technical Analysis: Pound Sterling turns volatile near 1.2100

Pound Sterling drops sharply to near 1.2100 after a weak US labor market report. The recovery move in the GBP/USD pair came after momentum oscillators turned oversold on the daily time frame. The broader outlook of the GBP/USD pair is bearish as the 50 and 200-day Exponential Moving Averages (EMAs) have delivered a Death Cross near 1.2450. A confident downside move could drag the Cable toward the psychological support of 1.2000.

Pound Sterling FAQs

The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data.
Its key trading pairs are GBP/USD, aka ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE).

The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money.
When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects.

Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP.
A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall.

Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : FXStreet – https://www.fxstreet.com/news/pound-sterling-recovers-though-uk-recession-risks-still-a-concern-202310060741

Tags: businessPoundSterling
Previous Post

Spurs star unlikely to play for club again after agreeing move elsewhere

Next Post

USD/CAD slides toward 1.3700 as Loonie soars on upbeat Canadian jobs report

Spatio-Temporal Geographic Networks for Value Co-Creation and Technology Transfer in China with Patent Data – Nature

Unlocking Innovation: How Spatio-Temporal Geographic Networks Fuel Value Co-Creation and Technology Transfer in China

July 14, 2025
2025 MLB Draft tracker, results: Live updates, complete list of every pick, first-round analysis – CBS Sports

2025 MLB Draft tracker, results: Live updates, complete list of every pick, first-round analysis – CBS Sports

July 14, 2025
Canids as pollinators? Nectar foraging by Ethiopian wolves may contribute to the pollination of Kniphofia foliosa – ESA Journals

Could Ethiopian Wolves Be Unexpected Pollinators of Kniphofia foliosa?

July 14, 2025
Guest Opinion: Science is stronger with robust federal funding – Palo Alto Online

Why Strong Federal Funding is Essential for Advancing Science

July 14, 2025
Weight loss may ‘rejuvenate’ fat tissues, clearing away aged cells – Live Science

Weight Loss Could ‘Rejuvenate’ Fat Tissue by Clearing Out Old Cells

July 14, 2025
If your goal is to glow up, say goodbye to these 10 daily decisions – VegOut

10 Daily Habits to Ditch Now for a Stunning Glow-Up

July 14, 2025
‘We’ve never seen a team do this to PSG’ – how Chelsea won Club World Cup – BBC

Unbelievable Comeback: How Chelsea Shocked PSG to Clinch the Club World Cup!

July 14, 2025
India will become $10 trillion economy over next decade, GCCs to contribute $0.5 trillion – The Economic Times

India Poised to Become a $10 Trillion Economy Within a Decade, Powered by GCCs Driving $0.5 Trillion Growth

July 14, 2025
Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

July 14, 2025
11 lessons for health tech startups from one of UpToDate’s creators – STAT

11 Essential Lessons for Health Tech Startups from a Leading Industry Innovator

July 14, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (721)
  • Economy (743)
  • Entertainment (21,631)
  • General (15,893)
  • Health (9,781)
  • Lifestyle (751)
  • News (22,149)
  • People (745)
  • Politics (754)
  • Science (15,962)
  • Sports (21,242)
  • Technology (15,728)
  • World (727)

Recent News

Spatio-Temporal Geographic Networks for Value Co-Creation and Technology Transfer in China with Patent Data – Nature

Unlocking Innovation: How Spatio-Temporal Geographic Networks Fuel Value Co-Creation and Technology Transfer in China

July 14, 2025
2025 MLB Draft tracker, results: Live updates, complete list of every pick, first-round analysis – CBS Sports

2025 MLB Draft tracker, results: Live updates, complete list of every pick, first-round analysis – CBS Sports

July 14, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version