{"id":97139,"date":"2020-03-06T03:00:28","date_gmt":"2020-03-06T08:00:28","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=97139"},"modified":"2020-03-06T02:10:29","modified_gmt":"2020-03-06T07:10:29","slug":"102604-gbp-usd-pound-eyes-1-30-ahead-of-us-jobs-report","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102604-gbp-usd-pound-eyes-1-30-ahead-of-us-jobs-report\/","title":{"rendered":"GBP\/USD: Pound Eyes $1.30 Ahead of US Jobs Report"},"content":{"rendered":"

Easing expectations of a rate cut by the Bank of England saw the pound climb steadily higher versus the US Dollar on Thursday. The Pound US Dollar exchange rate rallied 0.6% to close the day at US$1.2950.<\/p>\n

GBP\/USD is pushing higher in early trade on Friday. At 0:700 UTC GBP\/USD was trading up 0.1% at US$1.2967.<\/p>\n

After three straight sessions of gains the pound is on track to advance 1% against the greenback this week, snapping two weeks of decline.<\/p>\n

BoE Non-Action Supports Sterling<\/strong><\/h3>\n

Central Bank action or non-action has been in focus this week after the Federal Reserve surprised the market with a punchy 50 basis points rate cut on Monday. Comment by the incoming Bank of England Governor Andrew Bailey have calmed investors\u2019 nerves over an imminent rate cut by the BoE.<\/p>\n

Andrew Baily has said that he would prefer to wait and see what the Chancellor brings in the Budget on 11th<\/sup> March before rushing into any cutting decisions. He also mentioned that he would wait for further data. His comments suggest that there is unlikely to be a between meetings rate cut, like the Fed. \u00a0Meaning nothing is likely to happen until the meeting on 26th<\/sup> March.<\/p>\n

Brexit news has been more of a drag on the pound. Chief EU negotiator Michel Barnier warned of serious difference between the EU and the UK at the end of the first week of post Brexit trade talks.<\/p>\n

Today, following the first coronavirus death in the UK and a sharp increase in the number of confirmed cases coronavirus will remain in focus.<\/p>\n

US Non-Farm Payrolls To Lift Dollar?\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><\/h3>\n

After a bumper month of job creation last month investors will be watching closely to see if the coronavirus outbreak has impacted the US jobs market. Analysts are forecasting 175,000 jobs were created in February, following January\u2019s impressive 225,000. The unemployment rate is expected to remain unchanged at 3.6% and hourly earnings to gain 0.3%<\/p>\n

After a beat on the private payrolls and an increase in the employment component of the ISM non-manufacturing pmi, the lead indicators are pointing to an upbeat non far payroll reading, despite the recent coronavirus feared slowdown. A strong reading could remind US dollar investors that the US economy remains on a firm footing. Any signs of weakness could be met with panic and the assumption that the Fed will cut rates again.<\/p>\n

\n
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Easing expectations of a rate cut by the Bank of England saw the pound climb steadily higher versus the US Dollar on Thursday. The Pound US Dollar exchange rate rallied 0.6% to close the day at US$1.2950. GBP\/USD is pushing higher in early trade on Friday. At 0:700 UTC GBP\/USD was trading up 0.1% at […]<\/p>\n","protected":false},"author":163946597,"featured_media":5410,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1386,2139,1438,1394,1391,1433,1392,1397,1398],"class_list":{"0":"post-97139","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-usd","9":"tag-brexit","10":"tag-coronavirus","11":"tag-federal-reserve","12":"tag-gbp","13":"tag-pound","14":"tag-rate-cut","15":"tag-sterling","16":"tag-us-dollar","17":"tag-usd"},"acf":[],"yoast_head":"\nGBP\/USD: Pound Eyes $1.30 Ahead of US Jobs Report - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/102604-gbp-usd-pound-eyes-1-30-ahead-of-us-jobs-report\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102604-gbp-usd-pound-eyes-1-30-ahead-of-us-jobs-report\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102604-gbp-usd-pound-eyes-1-30-ahead-of-us-jobs-report\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/USD: Pound Eyes $1.30 Ahead of US Jobs Report\",\"datePublished\":\"2020-03-06T08:00:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102604-gbp-usd-pound-eyes-1-30-ahead-of-us-jobs-report\\\/\"},\"wordCount\":646,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102604-gbp-usd-pound-eyes-1-30-ahead-of-us-jobs-report\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100929-gbp-usd-brexit-delay-possible.jpg\",\"keywords\":[\"Brexit\",\"coronavirus\",\"federal reserve\",\"gbp\",\"pound\",\"rate cut\",\"sterling\",\"us dollar\",\"usd\"],\"articleSection\":[\"GBP\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102604-gbp-usd-pound-eyes-1-30-ahead-of-us-jobs-report\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102604-gbp-usd-pound-eyes-1-30-ahead-of-us-jobs-report\\\/\",\"name\":\"GBP\\\/USD: Pound Eyes $1.30 Ahead of US Jobs Report - 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