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GBP/USD Weekly Forecast – 15 February – 19 February

Friday, Feb 12 2016

Events that marked the week:

From the UK, on Tuesday, Trade Balance figures were released. The UK’s deficit on trade in goods and services was estimated to have been £2.7 billion in December 2015, a narrowing of £1.3 billion from November 2015. The narrowing is attributed to trade in goods where the deficit has narrowed from £11.5 billion in November 2015, to £9.9 billion in December 2015. Analysts were predicting deficit of £10.4 billion. Between November 2015 and December 2015, the trade in goods narrowing was mainly the result of a fall in the import of goods of £1.7 billion to £33.0 billion; mainly reflecting a fall in imports of unspecified goods, which decreased by £1.0 billion to £0.4 billion.

Wednesday brought UK Industrial Production figures. Total production output is estimated to have decreased by 0.4% in December 2015 compared with December 2014. The largest contribution to the fall came from manufacturing, which decreased by 1.7%. Total production output is estimated to have decreased by 1.1% between November 2015 and December 2015. Smaller decrease by 0.1% was forecasted. There were decreases in 3 of the 4 main sectors, with mining & quarrying having the largest contribution, decreasing by 4.0%.

 

This week markets will be looking at:

 

CPI/PPI (Tuesday 10:30)

Claimant Count Change/Unemployment Rate (Wednesday 10:30)

Retail Sales (Friday 10:30)

Public Sector Net Borrowing (Friday 10:30)

More in this category: « AUD/USD Weekly Forecast – 15 February – 19 February EUR/USD Weekly Forecast – 15 February – 19 February »

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