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GBP/USD Daily Forecast - 22 December

Friday, Dec 19 2014

From the UK, on Friday, Public Sector Net Borrowing and CBI Realized Sales survey figures were released. Public sector net borrowing was £13.4 billion in November 2014, below expected figure of £14.1 billion and a decrease of £1.6 billion compared with November last year. This additional borrowing needed to balance the public sector’s accounts means that between April and November 2014 the public sector borrowed £75.8 billion, a fall of £0.5 billion compared with the same period last year, as illustrated above.

Latest CBI survey on Realized Sales showed that 71% of respondents reported sales volumes up on a year ago, while 9% said they were down, giving a rounded balance of +61%, well above the +30% that had been expected and the highest balance since January 1988 (+67%).

 

It should be a steadier Monday's session for Sterling as there will be no data releases from the UK. Holiday season will probably have impact on liquidity as well so we cannot expect any huge movements. In the US session Existing Home Sales figures are scheduled for a release. Analysts predict a figures of around 5.21 million.

 

Figures to watch:

 

Existing Home Sales (Monday 16:00)

Last modified on Friday, 19 December 2014
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