wrapper

GBP/USD Weekly Forecast - 02 March - 06 March

Friday, Feb 27 2015

Events that marked the week:

From the UK, on Monday, CBI Realized Sales figures were released. Latest CBI survey on Realized Sales showed that 30% of respondents reported that sales volumes were up on a year ago, while 29% said they were down, giving a balance of +1%, significantly below expectations (+42%) and the lowest since November 2013 (+1%).However, despite the fall in sales, prices and headcount, retailers still expect a moderate improvement in their business situation over the next three months.

Only BBA Mortgage Approvals data was released from the UK on Wednesday. BBA Mortgage Approvals data showed increase in number of mortgage approvals to 36,400. This was mostly in line with market expectations. Though turning up slightly in January, house purchase approvals were 20% lower than last January. Remortgaging and other approvals continued to trend downwards and were 21% and 25% lower than a year ago respectively.

 

European part of Thursday's session was marked by UK GDP data. UK gross domestic product (GDP) in volume terms was estimated to have increased by 0.5% between Q3 2014 and Q4 2014, unrevised from the previous estimate of GDP published 27 January 2015 and in line with market expectations. GDP was estimated to have increased by 2.6% in 2014, compared with 2013, unrevised from the previously published estimate.

 

This week markets will be looking at:

 

Manufacturing PMI (Monday 10:30)

Net Lending to Individuals (Monday 10:30)

Construction PMI (Tuesday 10:30)

Services PMI (Wednesday 10:30)

Official Bank Rate/Asset Purchase Facility (Thursday 13:00)

More in this category: « AUD/USD Weekly Forecast - 02 March - 06 March EUR/USD Weekly Forecast - 02 March - 06 March »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.