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GBP/USD Daily Forecast – 20 September

Tuesday, Sep 19 2017
GBP/USD Daily Forecast – 20 September

There were no major data releases from the UK yesterday. Governor Carney’s comments at the IMF on Monday did not perhaps quite reflect the full bore hawkishness for a Nov rate increase that some market participants had wanted or expected to see. UK politics may be weighting on sentiment amid speculation about a rift between PM May and Foreign Minister Johnson over Brexit which rather highlight’s the PM’s weak leadership position.

In the U.S. session Housing Starts and Building Permits data was published. Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,300,000. This is 5.7 percent above the revised July rate of 1,230,000 and is 8.3 percent above the August 2016 rate of 1,200,000. Single-family authorizations in August were at a rate of 800,000; this is 1.5 percent below the revised July figure of 812,000. Authorizations of units in buildings with five units or more were at a rate of 464,000 in August. Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,180,000.

 

From the UK, tomorrow, Retail Sales figures will be published. Analysts expect 0.1% increase. US session will be marked by Fed's interest rate decision and the following press conference, though no change in interest rates is anticipated.

 

Figures to watch:

 

Retail Sales (Wednesday 10:30)

Federal Funds Rate/FOMC Economic Projections/FOMC Press Conference (Wednesday 20:00)

More in this category: « AUD/USD Daily Forecast – 20 September EUR/USD Daily Forecast – 20 September »

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