* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, September 28, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Jussie Smollett Claims He Was ‘Disrespected’ on the ‘Special Forces’ Season Premiere – Yahoo

    Jussie Smollett Opens Up About Feeling ‘Disrespected’ During the ‘Special Forces’ Season Premiere

    TicketSmarter Fall Entertainment Guide – Eastern Illinois University Athletics

    TicketSmarter Fall Entertainment Guide – Eastern Illinois University Athletics

    Cardi B Adds More Dates to Little Miss Drama Tour: ‘Y’all Making Me Work’ – Yahoo

    Cardi B Extends Little Miss Drama Tour: “Y’all Making Me Work

    ‘Today’: Sheinelle Jones Thanks Katie Couric for Support After Husband’s Death – CBS 19 News

    Sheinelle Jones Expresses Heartfelt Thanks to Katie Couric for Support After Husband’s Passing

    Sate your hunger at DBA’s Taste of Downtown – Bakersfield.com

    Indulge Your Cravings at DBA’s Taste of Downtown!

    Caesars Entertainment (CZR): Assessing Valuation After Times Square Casino Setback and Mounting Investor Concerns – simplywall.st

    Caesars Entertainment Faces Times Square Casino Hurdles as Investor Concerns Mount

  • 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
    Why I gave the world wide web away for free | Tim Berners-Lee – The Guardian

    Why I Chose to Give the World Wide Web Away for Free | Tim Berners-Lee

    From shale to steam: Fossil fuel technology boosts clean geothermal energy – Washington Examiner

    From Shale to Steam: How Fossil Fuel Technology is Powering a Clean Geothermal Energy Revolution

    How Sustainable Technology is Shaping a Greener Future – Technology Magazine

    How Sustainable Technology is Driving the Revolution Toward a Greener Future

    Aurora police hope to add facial recognition technology to crime-fighting tools – CBS News

    Aurora Police Aim to Boost Crime-Fighting with New Facial Recognition Technology

    Autonomous Solutions shows off cutting-edge technology for the public – Cache Valley Daily

    Autonomous Solutions Unveils Cutting-Edge Technology for the Public

    Amazon to Pay $2.5 Billion in Prime Membership Settlement – The New York Times

    Amazon to Pay $2.5 Billion in Prime Membership Settlement – The New York Times

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Jussie Smollett Claims He Was ‘Disrespected’ on the ‘Special Forces’ Season Premiere – Yahoo

    Jussie Smollett Opens Up About Feeling ‘Disrespected’ During the ‘Special Forces’ Season Premiere

    TicketSmarter Fall Entertainment Guide – Eastern Illinois University Athletics

    TicketSmarter Fall Entertainment Guide – Eastern Illinois University Athletics

    Cardi B Adds More Dates to Little Miss Drama Tour: ‘Y’all Making Me Work’ – Yahoo

    Cardi B Extends Little Miss Drama Tour: “Y’all Making Me Work

    ‘Today’: Sheinelle Jones Thanks Katie Couric for Support After Husband’s Death – CBS 19 News

    Sheinelle Jones Expresses Heartfelt Thanks to Katie Couric for Support After Husband’s Passing

    Sate your hunger at DBA’s Taste of Downtown – Bakersfield.com

    Indulge Your Cravings at DBA’s Taste of Downtown!

    Caesars Entertainment (CZR): Assessing Valuation After Times Square Casino Setback and Mounting Investor Concerns – simplywall.st

    Caesars Entertainment Faces Times Square Casino Hurdles as Investor Concerns Mount

  • 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
    Why I gave the world wide web away for free | Tim Berners-Lee – The Guardian

    Why I Chose to Give the World Wide Web Away for Free | Tim Berners-Lee

    From shale to steam: Fossil fuel technology boosts clean geothermal energy – Washington Examiner

    From Shale to Steam: How Fossil Fuel Technology is Powering a Clean Geothermal Energy Revolution

    How Sustainable Technology is Shaping a Greener Future – Technology Magazine

    How Sustainable Technology is Driving the Revolution Toward a Greener Future

    Aurora police hope to add facial recognition technology to crime-fighting tools – CBS News

    Aurora Police Aim to Boost Crime-Fighting with New Facial Recognition Technology

    Autonomous Solutions shows off cutting-edge technology for the public – Cache Valley Daily

    Autonomous Solutions Unveils Cutting-Edge Technology for the Public

    Amazon to Pay $2.5 Billion in Prime Membership Settlement – The New York Times

    Amazon to Pay $2.5 Billion in Prime Membership Settlement – The New York Times

    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 rebounds as steady UK wage growth diminishes BoE rate-cut bets

June 11, 2024
in Business
Pound Sterling rebounds as steady UK wage growth diminishes BoE rate-cut bets
Share on FacebookShare on Twitter

The Pound Sterling rebounds to 1.2750 as steady UK wage growth undermines BoE rate-cut bets for the August meeting.
UK Average Earnings Excluding bonuses rose steadily by 6%.
Investors see the Fed arguing to maintain a restrictive framework for longer.

The Pound Sterling (GBP) revives intraday losses and recovers to 1.2740 in Tuesday’s New York session. The GBP/USD pair rebounds despite poor United Kingdom (UK) Employment data for three months through April and a firm US Dollar (USD) amid expectations that the Federal Reserve (Fed) will delay interest-rate cuts.

The UK Office for National Statistics (ONS) reported that the labor market recorded a drawdown for the fourth time in a row. Employment fell by 140,000 workers in the three months to April, less than the 177,000 decline in employment seen in the January-March period. The ILO Unemployment Rate rose to 4.4%, higher than the expected 4.3%, which is the highest reading in more than two years. The labor market data indicates that firms struggle to bear the consequences of the Bank of England’s (BoE) higher interest rates.

However, the negative impact of poor labor demand on BoE’s restrictive monetary policy framework has been offset by steady wage growth in the February-April period. Average Earnings Excluding Bonuses, which is a wage inflation measure, grew in line with estimates and the prior release of 6.0%. Also, Average Earnings Including bonuses grew steadily by 5.9%, upwardly revised from 5.7% and higher than the estimates of 5.7%. High wage growth could hamper the BoE’s move towards lowering interest rates.

Daily digest market movers: Pound Sterling recovers albeit soft UK Employment

The Pound Sterling rebounds to near 1.2740 against the US Dollar despite the appeal of the latter remains firm. The US Dollar rises as investors turn cautious ahead of the United States (US) Consumer Price Index (CPI) data for May and the Federal Reserve’s interest rate decision, which are scheduled for Wednesday. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, approaches a monthly high near 105.40.
Monthly headline inflation is expected to grow at a slower pace of 0.1% from 0.3% in April, with annual figures growing steadily by 3.4%. In the same period, the annual core CPI, which excludes volatile food and energy prices, is expected to have decelerated to 3.5% from the former release of 3.6%, with monthly figures maintaining the current growth rate of 0.3%.
Steady or higher-than-expected inflation figures would force Fed policymakers to advocate for maintaining the current interest rate framework for a longer period. Soft figures, on the other hand, would reinforce their confidence that the progress in the disinflation process has not stalled.
The major event for investors will be the Fed’s interest rate decision, in which officials are expected to keep rates on hold for the seventh straight time. Policymakers said they won’t lower rates until they get sufficient evidence that inflation will sustainably return to the desired rate of 2%. Investors will keenly focus on Fed Chair Jerome Powell’s press conference and the dot plot to get significant cues about the interest rate outlook.
Currently, market speculation for Fed rate cuts for the entire year suggests that there will be only one rate cut this year, either in the November or December meeting. Meanwhile, investors’ expectations for the Fed reducing interest rates in the September meeting have diminished significantly.

Pound Sterling Price Today:

British Pound PRICE Today

The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Euro.

 
GBP
USD
EUR
JPY
CAD
AUD
NZD
CHF

GBP
 
0.12%
0.31%
0.22%
0.22%
0.28%
0.11%
0.14%

USD
-0.12%
 
0.19%
0.09%
0.09%
0.15%
-0.01%
0.04%

EUR
-0.31%
-0.19%
 
-0.08%
-0.09%
-0.02%
-0.19%
-0.14%

JPY
-0.22%
-0.09%
0.08%
 
-0.00%
0.04%
-0.13%
-0.07%

CAD
-0.22%
-0.09%
0.09%
0.00%
 
0.06%
-0.11%
-0.08%

AUD
-0.28%
-0.15%
0.02%
-0.04%
-0.06%
 
-0.17%
-0.15%

NZD
-0.11%
0.00%
0.19%
0.13%
0.11%
0.17%
 
0.04%

CHF
-0.14%
-0.04%
0.14%
0.07%
0.08%
0.15%
-0.04%
 

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).

Technical Analysis: Pound Sterling holds key 20-DEMA

The Pound Sterling finds an interim cushion near the round-level support of 1.2700 against the US Dollar. The GBP/USD pair continues to be well-supported by the 20-day Exponential Moving Average (EMA), which trades around 1.2714. Also, the 50-day EMA is loping higher, suggesting that the near-term trend is still upbeat.

The Cable still holds the 61.8% Fibonacci retracement support (plotted from the March 8 high of 1.2900 to the April 22 low at 1.2300) at 1.2665.

However, the 14-period Relative Strength Index (RSI) has shifted into the lower range of 40.00-60.00, suggesting that the momentum is losing strength.

Economic Indicator

Fed Interest Rate Decision

The Federal Reserve (Fed) deliberates on monetary policy and makes a decision on interest rates at eight pre-scheduled meetings per year. It has two mandates: to keep inflation at 2%, and to maintain full employment. Its main tool for achieving this is by setting interest rates – both at which it lends to banks and banks lend to each other. If it decides to hike rates, the US Dollar (USD) tends to strengthen as it attracts more foreign capital inflows. If it cuts rates, it tends to weaken the USD as capital drains out to countries offering higher returns. If rates are left unchanged, attention turns to the tone of the Federal Open Market Committee (FOMC) statement, and whether it is hawkish (expectant of higher future interest rates), or dovish (expectant of lower future rates).

Read more.

Next release: Wed Jun 12, 2024 18:00

Frequency: Irregular

Consensus: 5.5%

Previous: 5.5%

Source: Federal Reserve

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-edges-down-due-to-weak-uk-employment-uncertainty-ahead-of-fed-decision-202406110650

Tags: businessPoundSterling
Previous Post

Natural Gas rallies as Europe discusses keeping Russian flows via Ukraine

Next Post

EUR/USD slides further amid increasing uncertainty after EU election results

Why I gave the world wide web away for free | Tim Berners-Lee – The Guardian

Why I Chose to Give the World Wide Web Away for Free | Tim Berners-Lee

September 28, 2025
While chasing DK Metcalf, Isaiah Rodgers reached unprecedented speed – Yahoo Sports

Isaiah Rodgers Hits Unbelievable Top Speed While Chasing Down DK Metcalf

September 28, 2025
Poland bounce back with first ever World Championship bronze – Volleyball World

Poland Triumphs with Historic First-Ever World Championship Bronze in Volleyball

September 28, 2025

Russian Economy Struggles Under Growing Strain of Ukraine Conflict

September 28, 2025
Jussie Smollett Claims He Was ‘Disrespected’ on the ‘Special Forces’ Season Premiere – Yahoo

Jussie Smollett Opens Up About Feeling ‘Disrespected’ During the ‘Special Forces’ Season Premiere

September 28, 2025
Tom Holland shares health update after suffering concussion on ‘Spider-Man: Brand New Day’ set – New York Post

Tom Holland Opens Up About His Recovery After Concussion on ‘Spider-Man: Brand New Day’ Set

September 28, 2025
Politics are destroying our public schools. It doesn’t have to be that way | Opinion – Pensacola News Journal

How Politics Are Undermining Our Public Schools-and What We Can Do About It

September 28, 2025
Featured in Functional Ecology – besjournals

Discover the Latest Breakthroughs in Functional Ecology

September 28, 2025
Scientists Identify Simple and Effective Way To Reduce Calorie Intake Without Trying – SciTechDaily

Scientists Identify Simple and Effective Way To Reduce Calorie Intake Without Trying – SciTechDaily

September 28, 2025
Million-year-old skull rewrites human evolution, say scientists – BBC

Ancient Skull Discovery Upends Our Understanding of Human Evolution

September 28, 2025

Categories

Archives

September 2025
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
2930  
« Aug    
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 (841)
  • Economy (862)
  • Entertainment (21,736)
  • General (17,294)
  • Health (9,905)
  • Lifestyle (874)
  • News (22,149)
  • People (863)
  • Politics (872)
  • Science (16,071)
  • Sports (21,362)
  • Technology (15,845)
  • World (844)

Recent News

Why I gave the world wide web away for free | Tim Berners-Lee – The Guardian

Why I Chose to Give the World Wide Web Away for Free | Tim Berners-Lee

September 28, 2025
While chasing DK Metcalf, Isaiah Rodgers reached unprecedented speed – Yahoo Sports

Isaiah Rodgers Hits Unbelievable Top Speed While Chasing Down DK Metcalf

September 28, 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