GBP/USD Weekly Forecast – 11 September – 15 September

Events that marked the week:

Monday's session brought UK Construction PMI figures. At 51.1 in August, the seasonally adjusted IHS Markit/CIPS UK Construction Purchasing Managers’ Index remained above the 50.0 no-change threshold for the twelfth month running. However, the latest reading was down from 51.9 in July and pointed to the weakest overall UK construction performance since August 2016. A key reason for the slowdown was a lack of new orders to replace completed projects, according the survey respondents.

AUD/USD Weekly Forecast – 11 September – 15 September

USD - Major events in the week ahead

Events that marked the week:

On Tuesday Retail Sales data was published. U.S. retail sales advanced in July by the most this year, with widespread gains from department stores to building materials outlets that signal a robust start to consumer spending in the third quarter, according to Commerce Department figures released Tuesday. Overall sales climbed 0.6% (est. 0.3% gain) after 0.3% advance in prior month (revised from 0.2% decline).

USD - Major events in the week ahead

Events that marked the week:

On Monday Pending Home Sales figures were released. The Pending Home Sales Index, a forward-looking indicator based on contract signings, climbed 1.5 percent to 110.2 in June from an upwardly revised 108.6 in May. At 0.5 percent, the index last month increased annually for the first time since March. Lawrence Yun, NAR chief economist, says the bounce back in pending sales in most of the country in June is a welcoming sign.