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GBP/USD Daily Forecast – 08 April

Thursday, Apr 07 2016

Yesterday's session brought only UK house price index data. UK house prices in the first three months of 2016 were 2.9% higher than in the final quarter of 2015. The annual rate has grown from 9.7% to 10.1% in March. Worsening sentiment regarding the prospects for the UK economy and uncertainty ahead of the European referendum in June could result in some softening in the housing market over the next couple of months.

In the US session Unemployment Claims figures were released. In the week ending April 2, the advance figure for seasonally adjusted initial claims was 267,000, a decrease of 9,000 from the previous week's unrevised level of 276,000. This marks 57 consecutive weeks of initial claims below 300,000, the longest streak since 1973. The advance seasonally adjusted insured unemployment rate was 1.6% for the week ending March 26, unchanged from the previous week's unrevised rate.

 

From the UK, tomorrow, Industrial Production figures are scheduled for a release. Analysts are forecasting 0.1% increase. There will be no data releases in the US part of the session.

 

Figures to watch:

 

Industrial Production (Friday 10:30)

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