GBP/IQD Price & Performance (GBPIQD)

The British economy contracted by 0.1% in January, missing expectations of 0.1% growth. This has led to speculation of potential interest rate cuts by the Bank of England. Despite this, the GBP/USD remains steady, trading near 1.2930, as traders anticipate next week's central bank decisions and economic data releases.12

Markets remain cautious as the U.S.-China trade tensions escalate with reciprocal tariffs set for April. The S&P 500 has already seen a 6% decline year-to-date, reflecting concerns over global trade disruptions. Meanwhile, the U.S. dollar index stabilizes, though risks of further declines persist amid weak consumer sentiment.13

Oil prices are under pressure as the International Energy Agency revised demand growth estimates downward. Brent crude fell over 1.5% in response. Broader risk-off sentiment and ongoing tariff uncertainties continue to weigh on global growth forecasts, further challenging the energy market's recovery.14