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GBP/USD Weekly Forecast – 01 February – 05 February

Friday, Jan 29 2016

Events that marked the week:

Wednesday brought UK house prices data. House prices increased by 0.3% in January, while annual house price growth broadly stable at 4.4%, according to the latest Nationwide report. The pace of UK house price growth remained broadly stable during January. Indeed, annual house price growth has remained in a fairly narrow range between 3% and 5% since the summer of 2015. This trend was maintained in January, with house prices up 4.4% over the year, broadly in line with the 4.5% increase recorded in December.

Focus of Thursday's session was on UK GDP data. GDP is estimated to have increased by 0.5% in Quarter 4 (Oct to Dec) 2015 compared with growth of 0.4% in Quarter 3 (July to Sept) 2015. Output increased in 2 of the main industrial groupings within the economy in Quarter 4 (Oct to Dec) 2015. Services increased by 0.7% and agriculture increased by 0.6%. In contrast, production decreased by 0.2%, while construction output decreased by 0.1%.

 

This week markets will be looking at:

 

Manufacturing PMI (Monday 10:30)

Construction PMI (Tuesday 10:30)

Services PMI (Wednesday 10:30)

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

Last modified on Friday, 29 January 2016
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