GBP/USD rebounds despite strong US NFP report, market doubt immediate Fed cuts
By: bitcoin ethereum news|2025/05/03 01:00:13
0
Share
US adds 177K jobs in April, beating forecasts but trailing March’s revised print of 185K. Trump pressures Fed to cut rates, though data may delay policy shift until July. UK manufacturing PMI contracts again; BoE seen cutting rates by 25 bps next week. The Pound Sterling advanced for the first time in the last four days and bounced off weekly lows against the Greenback, although an upbeat jobs report in the United States (US) decreased fears of a recession in the largest economy. Nevertheless, the US Dollar failed to gain ground, as depicted by the GBP/USD trading at 1.3321, up 0.39%. GBP/USD surges as easing US-China tensions weigh on Dollar despite upbeat NFP and factory orders Positive trade news improved the risk appetite, as China-US tensions are easing and weighing on the US Dollar. April’s US Nonfarm Payrolls rose by 177K, exceeding forecasts of 130K, though they came short of the downward revised March figures of 185 K. The Unemployment Rate stood at 4.2%, and the data might deny the Federal Reserve from cutting interest rates. After the data, US President Donald Trump demanded that the Fed lower rates via a post in his Truth Social Network. Other data from the US revealed that Factory Orders in March rose by 4.3% Month over Month, up from 0.5% the previous month but slightly below the 4.5% foreseen. In the UK, the latest S&P manufacturing report revealed the tariff’s impact on the economy, as the PMI contracted for the seventh month in a row in April. Next week, the Bank of England (BoE) is expected to deliver a 25 basis points (bps) rate cut according to the swaps markets. Hence, the GBP/USD could get under pressure as the interest rate differential between the US and the UK could benefit the former as the Fed is projected to lower rates until the July meeting. GBP/USD Price Forecast: Technical outlook The GBP/USD seems to be forming a ‘bullish harami’ two-candle chart pattern, indicating that there’s some acceptance for higher prices. Still, the pair must surpass the May 1 high at 1.3345 to confirm the pattern, and bulls could push the spot price toward 1.3400. A breach of the latter will expose the year-to-date (YTD) high of 1.3443. Conversely, if GBP/USD slides beneath 1.33, key support levels will be exposed. The first would be the 1.3200 mark, followed by the 1.3100 figure and the 50-day Simple Moving Average (SMA) at 1.3004. British Pound PRICE This week The table below shows the percentage change of British Pound (GBP) against listed major currencies this week. British Pound was the strongest against the Japanese Yen. 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). Source: https://www.fxstreet.com/news/gbp-usd-rebounds-despite-strong-us-nfp-report-market-doubt-immediate-fed-cuts-202505021514
You may also like

WEEX Live mode: Monitor 20 trading pairs at once and trade like a pro
WEEX Live mode: Multi-screen desktop layout for 20 pairs, TradingView charts, one-click layout, and smart guides. Trade like a pro now.

Morning Report | Secret Network loses $4.67 million due to cross-chain vulnerability; Michael Saylor releases Bitcoin Tracker information again, may disclose increased holdings data next week
Overview of Important Market Events on June 21

Kalshi's biggest competitor is not Polymarket
The competitive logic of the prediction market has changed.

WEEX Makes Affiliate Access Easier on the Web and in the App
WEEX now provides a smoother way to access affiliate-related pages on the web and in the app. Users can find the Affiliate entry more easily and go to the right page based on their login and affiliate status.

Customize Your Spot Trading Page: Drag Modules and Move the Order Panel Where You Want It
Set up your WEEX Spot trading page around the way you trade. Drag supported modules, show or hide key panels, move the order panel to the left or right, and use “Reset layout” at any time to return to the default setup.

Perp DEX: The Next Generation Exchange "War"
This "war" has just begun.

10 Counterintuitive Insights on Latin American Payments
10 conclusions about payments that contradict mainstream beliefs: crypto cards rely on high-net-worth individuals rather than retail, QR codes are replacing cards, stablecoin profits are competing to go to zero, and Latin American regulation is actually 5 years ahead of the United States.

The AI gamble of mining companies: Valuations enter a phase of differentiation, and it's hard to turn the tide
This gamble of transforming into AI is testing the financial strength and execution capability of mining companies.

A letter from Alliance to entrepreneurs: Written on the occasion of Cursor selling for 60 billion dollars
Great companies are forged before they become obvious.

Stablecoins Finally Find Real Returns: On-Chain Reinsurance Re Explained | Interview with Re Founder Karan Saroya
This on-chain reinsurance platform absorbs stablecoins from DeFi, uses them as collateral to underwrite for American insurance companies, collects premiums, and returns the profits to on-chain depositors.

The impossible triangle is simply a pseudo problem
A long time ago, the cryptocurrency industry found its true purpose. But ironically, the path it built for this purpose excluded almost everyone who would actually use it.

Will MicroStrategy fall into a death spiral? What will the macro trend be in the second half of the year?
The cryptocurrency industry may gradually shift from the hype of native altcoins to real asset tokenization, on-chain machine economy, and a more mature industrialization phase.

Blockchain Capital Partner: The Core Secret of Arbitrage
On cold starts, breaking the circle, and the toughest hurdle for founders to overcome.

STRC unanchored by 11%, can the perpetual motion machine of Strategy still operate?
Beyond the leverage crunch, what is even more concerning is the liquidity reserves of the Strategy.

Bitcoin Market Analysis 2026: Can BTC Reach $150K by Year-End?
Bitcoin price prediction 2026: Can BTC hit $150,000 by year-end? Explore Fed policy, Kevin Warsh's stance, Bitcoin ETF flows, exchange data, and BTC market forecasts.

Bitcoin ETF Outflows Hit a Record $4.4 Billion: What Are Traders Doing With Their Cash?
Bitcoin ETFs lost $4.4 billion over 13 trading days, raising questions about market sentiment and Bitcoin's bottom. Here's what Standard Chartered is watching and how traders are managing idle stablecoin balances during uncertain markets.

WEEX App Just Got Smarter – New Tabs for Faster Trades & Easy Asset Management
Discover WEEX App’s new trading tabs: Futures, TradFi, Copy Trade (users)/ Elite Trade (lead traders) on the same page. Solve messy navigation, find opportunities faster, and manage all trades in one place.

WEEX All-New Search Features: Find, Trade & Earn Faster Than Ever
Supercharged search is here! Discover WEEX’s upgraded Search features with hot events, new listings, live market sentiment, and one-click trading. Trade smarter, seize every opportunity.
WEEX Live mode: Monitor 20 trading pairs at once and trade like a pro
WEEX Live mode: Multi-screen desktop layout for 20 pairs, TradingView charts, one-click layout, and smart guides. Trade like a pro now.
Morning Report | Secret Network loses $4.67 million due to cross-chain vulnerability; Michael Saylor releases Bitcoin Tracker information again, may disclose increased holdings data next week
Overview of Important Market Events on June 21
Kalshi's biggest competitor is not Polymarket
The competitive logic of the prediction market has changed.
WEEX Makes Affiliate Access Easier on the Web and in the App
WEEX now provides a smoother way to access affiliate-related pages on the web and in the app. Users can find the Affiliate entry more easily and go to the right page based on their login and affiliate status.
Customize Your Spot Trading Page: Drag Modules and Move the Order Panel Where You Want It
Set up your WEEX Spot trading page around the way you trade. Drag supported modules, show or hide key panels, move the order panel to the left or right, and use “Reset layout” at any time to return to the default setup.
Perp DEX: The Next Generation Exchange "War"
This "war" has just begun.
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com

