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GBP/USD Weekly Forecast – 25 September – 29 September

Friday, Sep 22 2017
GBP/USD Weekly Forecast – 25 September – 29 September

Events that marked the week:

Wednesday's session brought UK Retail Sales figures. In August 2017, the quantity bought (volume) in the retail sales industry increased by 1.0% compared with July 2017; with other non-food stores and non-store retailing as the main contributors to growth. Compared with August 2016, the quantity bought increased by 2.4%; the 52nd consecutive month of year-on-year increase in retail sales. Year-on-year contribution of food stores remains flat whilst there was a fall in the contribution of growth within petrol stations, showing that contributions to the overall growth came from non-essential items.

From the UK, on Thursday, Public Sector Net Borrowing data was published. Public sector net borrowing (excluding public sector banks) decreased by £0.2 billion to £28.3 billion in the current financial year-to-date (April 2017 to August 2017), compared with the same period in 2016; this is the lowest year-to-date net borrowing since 2007. The Office for Budget Responsibility (OBR) forecast that public sector net borrowing (excluding public sector banks) will be £58.3 billion during the financial year ending March 2018.

 

This week markets will be looking at:

 

Current Account (Friday 10:30)

Final GDP (Friday 10:30)

Net Lending To Individuals (Friday 10:30)

More in this category: « AUD/USD Weekly Forecast – 25 September – 29 September EUR/USD Weekly Forecast – 25 September – 29 September »

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