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GBP/USD Weekly Forecast – 14 November – 18 November

Saturday, Nov 12 2016
GBP/USD Weekly Forecast – 14 November – 18 November

Events that marked the week:

Focus of Tuesday's session was UK Industrial Production data. Quarterly estimate for production output decreased by 0.5% in Quarter 3 (July to Sept) 2016. The largest downward pressure came from manufacturing, which fell by 0.9%, partially offset by a rise in mining and quarrying of 4.3%. The monthly picture shows a decrease of 0.4% compared with August 2016. Mining and quarrying was the main sector to show a fall of 3.8%, partially offset by an increase in manufacturing of 0.6%. Users should note that we always warn against overly interpreting 1 month's figures.

On Friday, from the UK, only Construction Output data was published. In Quarter 3 (July to Sept) 2016, output in the construction industry was estimated to have decreased by 1.1% compared with Quarter 2 (Apr to June) 2016. Between Quarter 3 2016 and Quarter 3 2015, output was estimated to have increased by 0.1%. All new work increased by 2.0% while there was a fall of 3.4% in repair and maintenance. In September 2016, construction output increased by 0.3% compared with August 2016. All new work increased by 1.2% while there was a fall in repair and maintenance of 1.4%.

 

This week markets will be looking at:

 

CPI/PPI Input (Tuesday 10:30)

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

Retail Sales (Thursday 10:30)

More in this category: « AUD/USD Weekly Forecast – 14 November – 18 November EUR/USD Weekly Forecast – 14 November – 18 November »

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