GBP/USD Daily Forecast – 03 January

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Monday, Jan 02 2017

GBP/USD Daily Forecast – 03 January

There were no major data releases from the UK yesterday, with bank holidays both in the UK and USA. Looking ahead to this month, the market will watch closely the various economic reports and data from the US to see for continuing signs of strength in the US economy and it will also be watching out for the data from the UK to see how it is faring as we go ahead with the Brexit process.

UK economy has continued to show some strength with no effects of the Brexit process so far but the market would like to see some more proof of the same in the data. The market will also be watching for statements from the UK and the Euro leaders to gauge how difficult the Brexit process is going to be and all of this is going to guarantee a lot of volatility in GBPUSD.

Tomorrow's session will bring UK Manufacturing PMI figures. No change is expected. In the US session also Manufacturing PMI data is scheduled for a release. Analysts forecast incline to 53.7.

Figures to watch:

Manufacturing PMI (Tuesday 10:30)

ISM Manufacturing PMI (Tuesday 16:00)

More in this category: « AUD/USD Daily Forecast – 03 January EUR/USD Daily Forecast – 03 January »

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