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GBP/USD Weekly Forecast – 24 April – 28 April

Friday, Apr 21 2017
GBP/USD Weekly Forecast – 24 April – 28 April

Events that marked the week:

There were no data releases from UK on Tuesday, however, session was marked by Theresa May announcement of Snap U.K. elections. U.K. Prime Minister Theresa May called for an early election on June 8, in a stunning gamble aimed at strengthening her hand going into talks on leaving the European Union. Coming just weeks after she triggered the formal start of Brexit, May’s move reversed her public position of just a week ago, when her office insisted an early election wasn’t on the cards. She told ITV in an interview that she made her decision during a walking holiday with her husband in Wales before Easter.

Friday's session was marked by UK Retail Sales figures. The 3 months to March shows a decrease of 1.4%; the third consecutive decrease for the underlying 3 month on 3 month pattern Looking at the quarterly movement, the 3 months to March 2017 (Quarter 1) is the first quarterly decline since 2013 (Quarter 4). In March 2017, the quantity bought in the retail industry is estimated to have increased by 1.7% compared with March 2016 and decreased by 1.8% compared with February 2017; decreases are seen across the four main store types.

 

This week markets will be looking at:

 

Public Sector Net Borrowing (Tuesday 10:30)

Prelim GDP (Friday 10:30)

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