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GBP/USD Daily Forecast – 27 June

Monday, Jun 26 2017
GBP/USD Daily Forecast – 27 June

From the UK, yesterday, Mortgage Approvals data was released. The BBA’s latest data from the high street banks shows that consumer credit growth was 5.1% in May, compared with 6.4% in the previous month. Gross mortgage borrowing totalled £13.3 billion in May. Net mortgage borrowing was 2.4% higher than a year ago. Eric Leenders, BBA Managing Director for Retail Banking said: “This month’s figures show that in the run up to the General Election, credit growth in personal loans, cards and overdrafts has slowed, which was reflected in lower spending; with increased household costs affecting growth in deposits and saving.”

In the US session Durable Goods Orders figures were published. Orders for non-military capital goods excluding aircraft fell 0.2% (est. 0.4% gain) after 0.2% increase in prior month. Shipments of those goods, which are used to calculate gross domestic product, fell 0.2% after 0.1% gain. Bookings for all durable goods fell 1.1% (est. 0.6% drop) following 0.9% decline; excluding transportation-equipment demand, which is volatile, orders rose 0.1% (est. 0.4% gain).

 

There will be no major data releases from Australia tomorrow. In the US session CB Conumer Confidence figures will be published. Analysts anticipate decrease to 116.1.

 

Figures to watch:

 

CB Consumer Confidence (Tuesday 16:00)

More in this category: « AUD/USD Daily Forecast – 27 June EUR/USD Daily Forecast – 27 June »

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