The Pound Sterling holds firm against the Greenback on Tuesday following the release of US jobs data, which was softer than expected, while investors await US inflation data and UK data releases on Thursday.
The GBP/USD trades at 1.3508, nearly unchanged
GBP/USD steadies as traders await key inflation and growth data, Oil swings reshape Fed hike bets Energy prices had remained high, but retreated on a Bloomberg headline that read “Pakistan Says US, Iran Close to Deal Despite Trump Rhetoric.” On the headline, the US crude benchmark West Texas Intermediate (WTI) retreated from daily highs near $84.69 to $82.50. Traders are also waiting for the release of the US Consumer Price Index (CPI), with most participants expecting headline inflation to come in at 3.4% YoY in July, a tenth lower than in June, while core CPI is also forecast to drop by the same margin to 2.5%. YoY.
By Thursday, the US economic calendar will unveil the Producer Price Index (PPI) and jobless claims, the first of which follows a disappointing July Nonfarm Payrolls report. Across the Atlantic, in the UK, traders are bracing for the preliminary reading of the Gross Domestic Product (GDP) for the second quarter of 2026, with the economy expected to grow by 1.1% YoY. On a quarterly basis, a slowdown from 0.6% to 0.4% is projected.