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GBP/USD Daily Forecast - 27 June

Tuesday, Jun 26 2018
GBP/USD Daily Forecast - 27 June

There were no data releases from the UK yesterday. The Society of Motor Manufacturers and Traders said Tuesday that investment in new models, equipment and facilities in the United Kingdom was £347 million ($460 million) in the first half of the year, compared to £647 million ($860 million) in the same period of 2017. The dramatic decline underscores fears that customs checks resulting from Britain's departure from the European Union could hold up parts shipments needed to keep auto factories running smoothly.

In the US session Consumer Confidence figures were released. The Conference Board Consumer Confidence Index decreased in June, following an increase in May. The Index now stands at 126.4 (1985=100), down from 128.8 in May. The Present Situation Index was relatively flat, 161.1 versus 161.2 last month, while the Expectations Index declined from 107.2 last month to 103.2 this month. "Consumer confidence declined in June after improving in May," said Lynn Franco, Director of Economic Indicators at The Conference Board.

From the UK, tomorrow, BOE Financial Stability Report will be released. In the US session Durable Goods Orders figures will be published. Analysts predict decline by 0.9%.

Figures to watch:

BOE Financial Stability Report (Wednesday 9:30)

Durable Goods Orders (Wednesday 13:30)

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