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GBP/USD Daily Forecast – 23 December

Tuesday, Dec 22 2015

From the UK, yesterday, Public Sector Net Borrowing data was released.Public sector net borrowing excluding public sector banks decreased by £6.6 billion to £66.9 billion in the current financial year-to-date (April 2015 to November 2015) compared with the same period in 2014. Public sector net borrowing excluding public sector banks increased by £1.3 billion to £14.2 billion in November 2015 compared with November 2014. Compared with October 2015 borrowing increased to £13.6 billion.

In the US session GDP and Existing Home Sales figures were released. US GDP increased at an annual rate of 2.0% in the third quarter of 2015, according to the "third" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.9%. The GDP estimate released today is based on more complete source data than were available for the "second" estimate issued last month. In the second estimate, the increase in real GDP was 2.1%. 

 

Total existing-home sales fell 10.5% to a seasonally adjusted annual rate of 4.76 million in November (lowest since April 2014 at 4.75 million) from a downwardly revised 5.32 million in October. Analysts were anticipating rate of 5.36 million. After last month's decline (largest since July 2010 at 22.5 percent), sales are now 3.8% below a year ago — the first year-over-year decrease since September 2014.

 

From the UK, tomorrow, Current Account and Final GDP data should be published. Analysts predict Current Account deficit to rise to 21.3 billion pounds, while Final GDP should show no change from prelim's 0.5% growth. In the US session Durable Goods Orders and New Home Sales figures are scheduled for a release. Durable Goods are expected to decrease by 0.6%, while New Home Sales should show rise annual rate of 507,000.

 

Figures to watch:

 

Current Account (Wednesday 14:30)

Final GDP (Wednesday 14:30)

Durable Goods Orders (Wednesday 14:30)

New Home Sales (Wednesday 16:00)

More in this category: « AUD/USD Daily Forecast – 23 December EUR/USD Daily Forecast – 23 December »

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