GBP/USD steady as Fed cut rates, traders await Powell’s guidance
07.11.2024, 19:16

GBP/USD steady as Fed cut rates, traders await Powell’s guidance

  • GBP/USD holds at 1.2963 after Fed's unanimous 25 bps rate cut.
  • Fed acknowledges solid growth and easing labor conditions; inflation remains “somewhat elevated.”
  • Powell’s upcoming remarks could signal Fed’s stance on future easing amid balanced risks.

The GBP/USD barely moved after the Federal Reserve (Fed) cut rates by 25 basis points (bps) to the 4.50%—4.75% range. At the time of writing, the pair is at 1.2963, up 0.64%, as traders brace for Fed Chairman Jerome Powell's press conference.

Fed trims rates to 4.50%-4.75% range, highlights economic resilience and cautious inflation progress

The statement mentions that Fed officials continued to see the economy expand solidly, although labor market conditions had eased. Regarding inflation, they noted that it “has made progress toward the Committee's 2 percent objective but remains somewhat elevated.”

Fed policymakers added that the risks of achieving its dual mandate “are roughly in balance,” adding that the economic outlook is uncertain. They will remain attentive to the risks of both sides of the dual mandate.

Regarding the balance sheet, they would continue to reduce its holdings of Treasury securities, agency debt and agency mortgage‑backed securities.

When making future decisions, the FOMC will consider incoming data, the evolving outlook, and the balance of risks. It is worth noting that the decision was unanimous, as Governor Michelle Bowman supported the rate cut.

Next would be the Fed Chair Jerome Powell's press conference at 14:00 ET.

GBPUSD Price Chart – Daily

The pair barely moved, though it remained below the confluence of the 20- and 100-day Simple Moving Averages (SMAs) at 1.2982-87. Powell's hawkish message could push the GBP/USD lower, first to 1.2950, ahead of the 1.2900 figure.

On the other hand, the GBP/USD could test the daily high at 1.3009.

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 US Dollar.

  USD EUR GBP JPY CAD AUD NZD CHF
USD   -0.52% -0.64% -0.95% -0.51% -1.39% -1.19% -0.35%
EUR 0.52%   -0.12% -0.41% 0.02% -0.85% -0.65% 0.19%
GBP 0.64% 0.12%   -0.28% 0.13% -0.74% -0.54% 0.31%
JPY 0.95% 0.41% 0.28%   0.42% -0.45% -0.29% 0.61%
CAD 0.51% -0.02% -0.13% -0.42%   -0.87% -0.67% 0.18%
AUD 1.39% 0.85% 0.74% 0.45% 0.87%   0.19% 1.07%
NZD 1.19% 0.65% 0.54% 0.29% 0.67% -0.19%   0.86%
CHF 0.35% -0.19% -0.31% -0.61% -0.18% -1.07% -0.86%  

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).

 

© 2000-2024. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik