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GBP/USD Daily Forecast – 30 August

Tuesday, Aug 29 2017
GBP/USD Daily Forecast – 30 August

From the UK, yesterday, HPI data was published. UK house prices dipped this month, dragging down the annual growth rate, in further evidence of a cooling market. The average price of a home fell 0.1% between July and August to £210,495, according to Nationwide, Britain’s biggest building society. Prices rose in July and June but fell between March and May, the first time this had happened since the financial crisis.

In the US session CB Consumer Confidence figures were released. The Conference Board Consumer Confidence Index, which had increased in July, improved further in August. The Index now stands at 122.9 (1985=100), up from 120.0 in July. The Present Situation Index increased from 145.4 to 151.2, while the Expectations Index rose marginally from 103.0 last month to 104.0.

 

Tomorrow, from UK, Net Lending to Individuals figures will be released. Decrease to 5.3 billion pounds is forecasted. In the US session ADP job figures and Prelim GDP data will be published. GDP is expected to grow by 2.7%, while ADP employment should increase by 186,000.

 

Figures to watch:

 

Net Lending to Individuals (Wednesday 10:30)        

ADP Non-Farm Employment Change (Wednesday 14:15)

Prelim GDP (Wednesday 14:30)

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