GBP/USD Daily Forecast – 25 December

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Thursday, Dec 24 2015

Thursday was marked by BBA Mortgage Approvals data from the UK. BBA Mortgage Approvals showed decline to 45,000 compared to last month's 45,500 and expectations on increase to 46,300. Richard Woolhouse, Chief Economist at the BBA, said: “These statistics show the continued strength of the mortgage market, with monthly new lending higher than at any time over the past seven years. Net lending to companies is now expanding, particularly in the wholesale and retail sectors, as businesses take advantage of record low interest rates.”

In the US session Unemployment Claims figures were released. In the week ending December 19, the advance figure for seasonally adjusted initial claims was 267,000, a decrease of 5,000 from the previous week's revised level. Analysts were anticipating decline to 270,000. The previous week's level was revised up by 1,000 from 271,000 to 272,000. The 4-week moving average was 272,500, an increase of 1,750 from the previous week's revised average. The previous week's average was revised up by 250 from 270,500 to 270,750.

As for tomorrow, we can expect less volatile session since it is Christmas, banks will be closed and there will be no data releases.

More in this category: « AUD/USD Daily Forecast – 25 December EUR/USD Daily Forecast – 25 December »

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