GBP/USD stays firm against US Dollar on quieter market conditions

• GBP/USD edges up to 1.2632, navigating through thin liquidity and a light economic calendar on both sides of the Atlantic.
• US Durable Goods Orders exceed expectations, while consumer concerns over inflation temper consumer confidence.
• Market focus on Fed Governor Waller’s upcoming speech and core PCE inflation data for potential rate cut insights.

The Pound Sterling clings to gains of 0.05% against the US Dollar after hitting a daily low of 1.2605. Thin liquidity conditions prevail in the financial markets amid a shortened week in observance of Good Friday. At the time of writing, the GBP/USD trades at 1.2632.

GBP/USD maintains slight gains in subdued trading, with investors awaiting key speeches and inflation data

The economic docket on both sides of the Atlantic remains scarce, though the latest data from the United States (US) witnessed Durable Goods Orders rising 1.4% in February, above estimates of 1.1%. Other data showed that US consumer confidence missed estimates of 107, coming at 104.7 in March. Dana M. Peterson, Chief Economist at The Conference Board, commented, “Consumers remained concerned with elevated price levels, which predominated write-in responses.”