GBP/USD Daily Forecast – 11 March

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Thursday, Mar 10 2016

There were no data releases from the UK yesterday. This week, UK news has been unabashedly ‘Brexit’-focused, with controversial comments from the Bank of England’s Mark Carney and the International Monetary Fund’s Christine Lagarde displaying doubt towards the security of an EU-less Britain. Arguments about whether or not Britain is better off without the EU heat up as disputed claims that the Queen of England backs a ‘Brexit’ set news alight today and further damaged UK confidence.

In the US session Unemployment Claims figures were released. In the week ending March 5, the advance figure for seasonally adjusted initial claims was 259,000, a decrease of 18,000 from the previous week's revised level. Analysts were forecasting decrease to 272,000. The previous week's level was revised down by 1,000 from 278,000 to 277,000. The 4-week moving average was 267,500, a decrease of 2,500 from the previous week's revised average. The previous week's average was revised down by 250 from 270,250 to 270,000.

From the UK tomorrow, Trade Balance figures are scheduled for a release. Analysts are predicting increase in deficit to 10.3 billion pounds. There will be no data releases from the USA.

Figures to watch:

Trade Balance (Friday 1:30)

More in this category: « AUD/USD Daily Forecast – 11 March EUR/USD Daily Forecast – 11 March »

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