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17 Apr 2015
GBP/USD: Preview of a key week next week
FXStreet (Guatemala) - GBP/USD is currently trading at 1.4961 with a high of 1.5054 and a low of 1.4915.
GBP/USD is settled in to the close sub the key and psychological 1.5000 handle for this week, and positioned at the mid point of 1.49 ahead of a busy week in data next week. The pair has rallied from the depths of 1.4565 and scored a high 1.5054 this week, leaving the major vulnerable to yet further swings until the market settles down for one direction or another based up on fundamentals that could spring up from either side of the Atlantic at the moment. Durable Goods next week comes in from the US as well as Markit Manufacturing.
In the US today, the data was better at the end the week and that boosted the US dollar, with hawks enjoying the core CPI beating expectations while the rest of the reports findings were relatively, if not slightly lower than, in line of the consensus. Consumer confidence was another decent result and leaves markets with a balanced outlook into the week ahead.
For the UK, there are a number of key releases to follow, while the elections that are coming up, keeping markets nervous around the outcome. Analysts at TD Securities explained, "With all the major parties having released their manifestos over the last week, we’re now in the thick of the campaigning period. We’ll be watching for shifts in betting odds and polling to try to get a better gauge on one of the most uncertain elections in recent history."
Other than this, we will see Retail Sales (Thursday 23 April), expected to print another record and solid gain in March and also the BoE Minutes (Wed 22 April), Where another 9-0 vote is expected in the main and then things turn quiet from the Old Lady until the Inflation Report on 13 May.
GBP/USD is settled in to the close sub the key and psychological 1.5000 handle for this week, and positioned at the mid point of 1.49 ahead of a busy week in data next week. The pair has rallied from the depths of 1.4565 and scored a high 1.5054 this week, leaving the major vulnerable to yet further swings until the market settles down for one direction or another based up on fundamentals that could spring up from either side of the Atlantic at the moment. Durable Goods next week comes in from the US as well as Markit Manufacturing.
In the US today, the data was better at the end the week and that boosted the US dollar, with hawks enjoying the core CPI beating expectations while the rest of the reports findings were relatively, if not slightly lower than, in line of the consensus. Consumer confidence was another decent result and leaves markets with a balanced outlook into the week ahead.
For the UK, there are a number of key releases to follow, while the elections that are coming up, keeping markets nervous around the outcome. Analysts at TD Securities explained, "With all the major parties having released their manifestos over the last week, we’re now in the thick of the campaigning period. We’ll be watching for shifts in betting odds and polling to try to get a better gauge on one of the most uncertain elections in recent history."
Other than this, we will see Retail Sales (Thursday 23 April), expected to print another record and solid gain in March and also the BoE Minutes (Wed 22 April), Where another 9-0 vote is expected in the main and then things turn quiet from the Old Lady until the Inflation Report on 13 May.