wrapper

GBP/USD Weekly Forecast - 18 June - 22 June

Saturday, Jun 16 2018
GBP/USD Weekly Forecast - 18 June - 22 June

GBP/USD had a bad week, succumbing to the strength of the US dollar and the Brexit Bill compromises by UK government. The UK government had to reach a compromise with the pro-Remain rebels in order to secure a victory in Parliament over the amendments suggested by the House of Lords. This could lead to a softer Brexit, but other factors complicated the picture. UK inflation disappointed with 2.4% y/y, weighing on Sterling. The jobs report was mixed with unimpressive salaries but a drop in jobless claims, while retail sales beat expectations. In the US, the Fed raised interest rates and signaled two additional moves. The hawkish hike took time to materialize in markets and the greenback exploded only after American retail sales beat expectations. GBP/USD fell sharply.

 

Major events for the coming week:

  1. Rightmove HPI: Sunday, 23:01.
  2. CBI Industrial Order Expectations: Wednesday, 10:10. Britain’s industry is suffering as a drop of -3 was seen last time. The A bounce back to positive ground, 1 point, is on the cards this time.
  3. Public Sector Net Borrowing: Thursday, 8:30. The British government borrowed a total of 6.2 billion pounds, within normal ranges. A small squeeze in public lending is likely: 5.1 billion.
  4. UK rate decision: Thursday, 11:00. The Bank of England is expected to leave its policy unchanged once again in this meeting which does not include the publication of the Quarterly Inflation Report nor a press conference.
  5. Mark Carney talks: Thursday, 20:15. The Governor of the BOE will deliver an important speech at Mansion House. In the past, he used the occasion to signals changes in monetary policy, sometimes not in line with the thoughts of other members. Any hawkish twist may be treated with suspicion but could still move the pound. Carney speaks at a time when liquidity is low, so any surprise could have an outsized impact.
  6. BOE Quarterly Bulletin: Friday, 11:00.
More in this category: « AUD/USD Weekly Forecast - 18 June - 22 June EUR/USD Weekly Forecast - 18 June - 22 June »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.