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GBP/USD Daily Forecast – 23 August

Tuesday, Aug 22 2017
GBP/USD Daily Forecast – 23 August

Yesterday's session brought Public Sector Net Borrowing figures from the UK. Public sector net borrowing (excluding public sector banks) increased by £1.9 billion to £22.8 billion in the current financial year-to-date (April 2017 to July 2017), compared with the same period in 2016. The Office for Budget Responsibility (OBR) forecast that public sector net borrowing (excluding public sector banks) will be £58.3 billion during the financial year ending March 2018.

Public sector net borrowing (excluding public sector banks) was in surplus by £0.2 billion in July 2017, the first July surplus since 2002, while borrowing in July 2016 was £0.3 billion. Public sector net borrowing (excluding public sector banks) decreased by £27.0 billion to £45.1 billion in the financial year ending March 2017 (April 2016 to March 2017) compared with the financial year ending March 2016; this is the lowest net borrowing since the financial year ending March 2008.

 

There will be no major data releases from the UK tomorrow. In the US session New Home Sales figures will be published. No change is forecasted.

 

Figures to watch:

 

New Home Sales (Wednesday 16:00)

More in this category: « AUD/USD Daily Forecast – 23 August EUR/USD Daily Forecast – 23 August »

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