GBP/USD Weekly Forecast - 02 May – 06 May

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Friday, Apr 29 2016

Events that marked the week:

Wednesday was marked by UK GDP figures. GDP is estimated to have increased by 0.4% in Quarter 1 (Jan to Mar) 2016 compared with growth of 0.6% in Quarter 4 (Oct to Dec) 2015. This was in line with market predictions. Output increased in services by 0.6% in Quarter 1 (Jan to Mar) 2016. The other 3 main industrial groupings within the economy decreased, with production falling by 0.4%, construction output by 0.9% and agriculture by 0.1%.

Friday was marked by Net Lending to Individuals data. Total lending to individuals increased by £9.3 billion in March, compared to the average of £5.0 billion over the previous six months. The three-month annualised and twelve-month growth rates were 5.6% and 4.1% respectively. Lending secured on dwellings increased by £7.4 billion in March, compared to the average of £3.6 billion over the previous six months. The three-month annualised and twelve-month growth rates were 4.7% and 3.4% respectively. Gross lending secured on dwellings was £27.4 billion and repayments were £18.5 billion.

This week markets will be looking at:

Manufacturing PMI (Tuesday 10:30)

Construction PMI (Wednesday 10:30)

Services PMI (Thursday 10:30)

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

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