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GBP/USD Weekly Forecast – 16 October – 20 October

Friday, Oct 13 2017
GBP/USD Weekly Forecast – 16 October – 20 October

Events that marked the week:

Tuesday's session was marked by UK Industrial Production figures. In the three months to August 2017, the Index of Production was estimated to have increased by 0.9%; all four main sectors increased with the largest contribution from manufacturing. In August 2017, total production was estimated to have increased by 0.2% compared with July 2017, due mainly to a rise of 0.4% in manufacturing. Total production output for August 2017 compared with August 2016 increased by 1.6%, with manufacturing providing the largest upward contribution, increasing by 2.8%; mining and quarrying partially offset this rise, decreasing by 6.0%.

There were no data releases from the UK in the rest of the week. Focus has swung back to Brexit risks following PM May’s appearance on a radio show on Tuesday where she refused to say how she would vote in a new referendum on Brexit; May campaigned for the Remain camp and the flubbed response might antagonise already difficult relations with ministers who favour a hard Brexit approach. Chancellor Hammond told law makers that the government had to be prepared for a “bad tempered” exit from the EU.

 

This week markets will be looking at:

 

CPI/PPI (Tuesday 10:30)

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

Retail Sales (Thursday 10:30)

Public Sector Net Borrowing (Friday 10:30)

More in this category: « AUD/USD Weekly Forecast – 16 October – 20 October EUR/USD Weekly Forecast – 16 October – 20 October »

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