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GBP/USD Daily Forecast – 07 August

Saturday, Aug 05 2017
GBP/USD Daily Forecast – 07 August

There were no major data releases from the UK on Friday. A sustained spike in mortgage-arrears data published by the Bank of England had left home loan providers in the U.K. puzzled. Turns out some lenders were entering incorrect data. The central bank has asked a number of mortgage providers to re-submit data for some home-loan statistics following a joint investigation with the Financial Conduct Authority, a person with knowledge of the matter said. It found some lenders were overstating arrears by including loans which should not have been added, the person said, asking not to be identified because the probe was confidential.

US session was marked by NFP report. Total nonfarm payroll employment increased by 209,000 in July, and the unemployment rate was little changed at 4.3 percent, the U.S. Bureau of Labor Statistics reported. Employment increased in food services and drinking places, professional and business  services, and health care. Both the unemployment rate, at 4.3 percent, and the number of unemployed persons, at 7.0  million, changed little in July. After declining earlier in the year, the unemployment rate has shown little movement in recent months.

 

There will be no major data releases both from the UK and USA on Monday so we can expect a bit steadier session.

More in this category: « AUD/USD Daily Forecast – 07 August EUR/USD Daily Forecast – 07 August »

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