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GBP/USD Weekly Forecast – 01 May – 05 May

Friday, Apr 28 2017
GBP/USD Weekly Forecast – 01 May – 05 May

Events that marked the week:

From the UK, on Tuesday, Public Sector Net Borrowing figures were released. Public sector net borrowing (excluding public sector banks) increased by £0.8 billion to £5.1 billion in March 2017, compared with March 2016; this is the highest March borrowing since 2015. Public sector net debt (excluding public sector banks) was £1,729.5 billion at the end of March 2017, equivalent to 86.6% of gross domestic product (GDP); an increase of £123.5 billion (or 3.0 percentage points as a ratio of GDP) on March 2016.

Friday was marked by UK GDP figures. UK gross domestic product (GDP) was estimated to have increased by 0.3% in Quarter 1 (Jan to Mar) 2017, the slowest rate of growth since Quarter 1 2016. Slower growth in Quarter 1 2017 was mainly due to services, which grew by 0.3% compared with growth of 0.8% in Quarter 4 (Oct to Dec) 2016. In Quarter 1 2017 there were falls in several important consumer-focused industries, such as retail sales and accommodation; this was due in part to prices increasing more than spending.

 

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 – 01 May – 05 May EUR/USD Weekly Forecast – 01 May – 05 May »

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