The post Pound Sterling fell after hot US CPI appeared on BitcoinEthereumNews.com.
GBP/USD lost about 0.7% on Tuesday, sliding from prior session highs near 1.3650 to test the 1.3500 round figure before a modest late-session rebound. Price recovered close to 1.3540, with the steady move lower through European and US trade leaving the pair at the lower end of its recent multi-day range. The Pound came under pressure on Tuesday as political instability in Westminster deepened, with more than 70 Labour Members of Parliament (MPs) publicly urging Prime Minister Keir Starmer to resign after heavy local election losses. UK gilts sold off across the curve, with the 30-year yield briefly touching 5.81%, its highest level since 1998, amid worries that a leadership transition could mean looser fiscal policy. Wednesday’s focus shifts to Catherine Mann at the Bank of England (BoE), the most committed hawk on the rate-setting committee, who has stated she would vote to lift the main Bank Rate if in
The post Bitcoin (BTC) Struggles at $80K as April CPI Surges to Three-Year Peak appeared on BitcoinEthereumNews.com.
Key Highlights April’s US CPI climbed to 3.8% annually, marking the steepest increase since May 2023 Surging energy prices contributed over 40% of April’s monthly inflation gain BTC maintained support around $80,000 while facing rejection at the $82,000–$82,600 zone The 200-day simple moving average near $82,600 serves as a critical barrier for bullish momentum Bitcoin ETFs recorded net outflows while the Coinbase Premium Index remained in negative territory Bitcoin maintained its position near the $80,000 mark on Tuesday following the release of April’s US Consumer Price Index, which registered 3.8% on a year-over-year basis. This represents the most elevated inflation reading since May 2023. Bitcoin (BTC) Price The month-over-month figure came in at 0.6%, aligning with analyst expectations. Meanwhile, the core CPI metric—which excludes volatile food and energy componen
The post Pound Sterling Price News and Forecast: GBP/USD languishes near a two-week low appeared on BitcoinEthereumNews.com.
British Pound seems vulnerable near two-week low vs USD; GBP/USD holds above 1.3500 The GBP/USD pair struggles to capitalize on the previous day’s late bounce from the 1.3500 psychological mark, or a nearly two-week low, and oscillates in a narrow band during the Asian session on Wednesday. Spot prices remain below the 1.3550 level and seem vulnerable to weaken further amid a combination of negative factors. The British Pound (GBP) continues to be undermined by a severe political crisis in the UK, with over 80 Labour MPs calling for Prime Minister Keir Starmer to resign following disastrous local election results. The US Dollar (USD), on the other hand, is seen consolidating the previous day’s strong gains to an over one-week high as hot US inflation data reaffirmed bets for a rate hike by the Federal Reserve (Fed). These turn out to be key factors acting as a he
The post Canadian Dollar dives on risk-off markets with US CPI on tap appeared on BitcoinEthereumNews.com.
The Canadian Dollar (CAD) accelerates its decline against the US Dollar (USD) on Tuesday, with the USD/CAD pair rallying above 1.3700 and set to test its highest levels in nearly a month, at 1.3714. A sour market mood amid saber-rattling in the Middle East and investors’ cautiousness ahead of the US Consumer Price Index (CPI) release are buoying the USD across the board. Traders are on edge about the possibility of the resumption of hostilities between the US and Iran, which would complicate the reopening of the Strait of Hormuz even further. US President Donald Trump affirmed earlier on Tuesday that the ceasefire is on “life support,” and CNN reported comments from the president’s aides suggesting that the resumption of major combat operations is back on the table. CNN also stated that the peace process is unlikely to make significant progress ahead of the meeting between Trump
The post Markets, AI Rally Rattled as Trump Calls Iran Ceasefire “On Life Support” appeared on BitcoinEthereumNews.com.
Trump called the Iran ceasefire on life support after rejecting Tehran’s proposal as garbage. Brent crude rose to $105 as silver jumped 7% and traders rushed into safe haven assets. US CPI forecast at 3.7% raising fears Fed may hike rates rather than cut them this year. Global markets turned cautious on Tuesday after President Trump declared the US-Iran ceasefire was “on life support,” describing Tehran’s latest counterproposal to end the war as “garbage.” Oil responded immediately. Brent crude futures rose 0.7% to $105 a barrel. Silver jumped over 7% as traders rushed back into safe haven assets. Bitcoin held above $81,000 but remained under pressure as risk appetite faded across the board. What Iran Proposed Iran’s response to the US peace proposal included demands for war reparations, confirmation of Iranian sovereignty over the Strait of Hormuz, an end to sanctio
The post Gold Price Forecast: XAU/USD slides to $4,700 ahead of US CPI data appeared on BitcoinEthereumNews.com.
Gold (XAU/USD) shows moderate losses on Tuesday, trading a few pips below the $4,700 level at the time of writing after failing to find acceptance above $4,770 earlier on the day. The precious metal remains within previous ranges, but the risk has shifted to the downside as concerns about the US-Iran ceasefire and investors’ cautiousness ahead of the US Consumer Price Index (CPI) release are buoying the US Dollar (USD). US President Donald Trump warned earlier on Tuesday that the ceasefire is on “life support,” and CNN, citing some of his aides, has reported that the president would be seriously considering resuming combat operations. On the macroeconomic front, all eyes are on the US CPI release, due later on Tuesday. Consumer inflation is expected to have surged to a 3.7% annual rate in April, its highest level since September 2023, amid the energy shock from Iran’s war. I
The post Gold reverses gains as US CPI data takes center stage appeared on BitcoinEthereumNews.com.
Gold (XAU/USD) reverses earlier gains on Tuesday as fading hopes for a near-term breakthrough in US-Iran negotiations and a modest rebound in the US Dollar (USD) weigh on the precious metal ahead of the US Consumer Price Index (CPI) data release. At the time of writing, XAU/USD is trading around $4,694 after hitting a three-week high of $4,773 during the Asian session. US-Iran negotiations remain at an impasse over Iran’s nuclear program. US President Donald Trump told reporters in the Oval Office on Monday that the ceasefire is “on massive life support.” The remarks came after Trump rejected Iran’s latest response to the US-backed peace proposal, calling it “totally unacceptable.” Reports also suggest that the US President is considering a resumption of military operations, alongside a potential restart of “Project Freedom” in the Strait of Hormuz. Meanwhile, Iranian Parliament Speaker
The post Swiss Franc weakens as SNB resists strength, US CPI eyed appeared on BitcoinEthereumNews.com.
USD/CHF trades around 0.7815 on Tuesday at the time of writing, up 0.46% on the day, supported by renewed demand for the US Dollar (USD) amid fresh geopolitical tensions in the Middle East. Market sentiment deteriorates after comments from United States (US) President Donald Trump stating that the US-Iran ceasefire is on “life support.” According to CNN, several members of his administration are now reportedly considering a resumption of major military operations more seriously. This backdrop revives safe-haven flows and supports the Greenback. The US Dollar Index (DXY), which measures the US Dollar’s performance against a basket of six major currencies, rises toward 98.30, also supported by increasingly hawkish expectations regarding the Federal Reserve’s (Fed) monetary policy. Investors are now awaiting the release of the US Consumer Price Index (CPI) for April. Consensus expects an
