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GBP/USD Weekly Forecast - 9 April - 13 April

Saturday, Apr 14 2018
GBP/USD Weekly Forecast - 9 April - 13 April

GBP/USD dropped to the lowest levels in two weeks only to recover and end the week higher. The British economy is slowing down according to the forward-looking PMI data. The construction sector is in contraction and the services sector, the most important one, is close to a standstill.

 

In the US, job growth was disappointing at 103K but wages are rising at a faster pace. Fed officials seem determined to raise rates despite worries about trade wars that have been heating up between China and the US.

Major events in the coming week:

  1. Halifax HPI: Monday, 7:30. HBOS reported a rise of 0.4% in February and the report for March is expected to show a more modest rise of 0.1%.
  2. BRC Retail Sales Monitor: Monday, 23:01. The British Retail Consortium’s report on retail sales.
  3. Andy Haldane talks: Tuesday, 18:30. The Chief Economist of the BoE will speak in Melbourne. Haldane has been relatively dovish in his previous public comments.
  4. Manufacturing Production: Wednesday, 8:30. Output in the manufacturing sector has been on the rise for quite some time. A minor rise is expected for February.
  5. Goods Trade Balance: Wednesday, 8:30. The UK reported a wider than expected trade deficit of 12.3 billion pounds in January. A slightly narrower deficit is on the cards now: 11.9 billion.
  6. Construction Output: Wednesday, 8:30. After a sharp fall of 3.4%, a small rise of 0.8% is expected for February.
  7. RICS House Price Balance: Wednesday, 23:01.
  8. Ben Broadbent talks: Thursday, 6:30. The BOE Deputy Governor will speak in Sydney. Broadbent has been one of the more hawkish members of the Monetary Policy Committee.
  9. BOE Credit Conditions Survey: Thursday, 8:30. This quarterly report by the BOE may show that credit expansion is growing at a fast pace due to low interest rates, thus justifying a hike.
  10. Mark Carney talks: Thursday, 19:00. The BoE Governor speaks in Toronto.

(All times are GMT)

Last modified on Sunday, 24 June 2018
More in this category: « EUR/USD Weekly Forecast - 12 March - 16 March AUD/USD Weekly Forecast - 9 April - 13 April »

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