Major economic events which could impact the trading of the pair GBP/USD for the week ending September 28th are as under:

On Tuesday, In United States, S&P/Case-Shille home price index along with Richmond Fed manufacturing index was released. United States also released its data on consumer confidence while US Federal Reserve’s official Plosser also spoke on economic outlook in Philadelphia.

United Kingdom reported its data on house prices while Bank of England’s official Paul Fisher addressed at an event in London.

On Wednesday, United States published its report on new home sales and MBA mortgage applications while the Energy Information Administration released its inventories data on crude oil, gasoline and distillates. In United Kingdom, data on CBI reports sales was published.

On Thursday, United States will report its data on continuing claims, core personal consumption expenditure, gross domestic product, personal consumption, initial jobless claims, durable goods orders, pending home sales and preliminary benchmark revision to establishment employment. The EIA will also report its data on natural gas supplies. In United Kingdom, data on total business investment, current account and gross domestic product is expected.

On Friday, In United States, data on personal consumption expenditure, personal spending, personal income, purchasing managers’ index and confidence index by University of Michigan will be released. In United Kingdom, data on index of services and consumer confidence survey will be reported.

Major factors to affect the trading of the pair GBP/USD for the week ending September 7th, 2012 are as follows:

On Monday, September 3^rd, markets remained closed in United in observance of Labor Day while United Kingdom reported its data on purchasing managers’ index and Lloyds Business barometer.

On Tuesday, United States came up with data on purchasing managers’ index and construction spending. Institute of Supply and Management and also released its manufacturing data and figure on prices paid. United Kingdom published its figure on purchasing managers’ index for services & construction sector along with data on house prices.

On Wednesday, data on vehicle sales, MBA mortgage applications, unit labor costs and non-farm productivity will be published in United States while United Kingdom will report its data on PMI for services and official reserves.

On Thursday, in United States, official data on job cuts, consumer outlook index, employment change, initial jobless claims, continuing claims and manufacturing data by Institute of Management and Supply will be published. Moreover, the Energy Information Administration will release its weekly inventories report on crude oil, gasoline, distillates and natural gas. In UK, the Bank of England is expected to announce its interest rate decision and asset purchase target.

On Friday, in United States, data on change in manufacturing payrolls, full time employment change, unemployment rate, average hourly earnings, change household employment, underemployment rate, change in private payrolls and change in average hourly earnings is to be released. In United Kingdom data on industrial production, manufacturing production and producer price index will be reported.

Significant factors to affect the trading of the pair GBP/USD for the week ending August 31st, 2012 are as follows:

On Monday, in United States, Dallas’s Federal Reserve reported its manufacturing activity. United Kingdom came up with its hometrack housing survey.

On Tuesday, in United States, S&P/Case-Shiller home price index and S&P/Case-Shiller composite 20 index was released. Data on consumer confidence and manufacturing index was also reported in the US.

On Wednesday, in the United States, several indicators are expected which will include data on MBA mortgage applications, core personal consumption expenditure, gross domestic product figure, data on personal consumption and data on pending home sales. US Federal Reserve will publish its Beige book economic survey while US Energy Department will report inventories data for crude oil, gasoline and distillates.

On Thursday, United States will report its data on continuing claims, initial jobless claims, personal consumption expenditure, personal spending and personal income. Kansas City Federal Reserve reported its data on manufacturing activity while Energy Information Administration will report its data on natural gas supplies. In United Kingdom, data on net consumer credit, mortgage approvals, net lending of Dwellings and M4 money supply will be released.

On Friday, In United States, data on factory orders and Chicago’s purchasing managers’ index is to be reported while University of Michigan will publish its report on consumer confidence. US Federal Reserve’s Chairman will also address at Jackson Hole Economic Policy Symposium. In United Kingdom data on house prices and consumer confidence survey will be published while Bank of England’s officials Haldane and Posen will deliver a speech at Jackson Hole Economic Policy Symposium.

List of major events to affect the trading of the pair GBP/USD for the week ending July 6th, 2012 is as under:

On Monday, in United States, data on ISM manufacturing, ISM prices paid, construction spending and PMI was published. Further US Federal Reserve’s official Williams addressed at an event in San Francisco. In United Kingdom, purchasing managers index for manufacturing sector was reported along with data on hometrack housing survey and Lloyds business barometer.

On Tuesday, in United States data on factory orders and New York’s ISM was published. In United Kingdom, data on M4 money supply, mortgage approvals, net lending on Dwellings, net consumer credit and purchasing managers’ index for construction was published.

On Wednesday, July 4^th, 2012, markets in United States remained closed in observance of Independence Day. In the United Kingdom, official data on changes in reserves was released with the Bank of England published its data on equity withdrawal.

On Thursday, in the United States, data on MBA mortgage applications, job cuts, ADP employment change, continuing claims, initial jobless claims and data on ISM’s non-manufacturing composite index is to be reported. Moreover, the Energy Information Administration is expected to release its report on crude oil, gasoline and distillates inventories.

In United Kingdom, data on Halifax House price was reported while the Bank of England announced its decision on interest rate.

On Friday, in United States, data on household employment change, net change in employment, change in manufacturing payrolls, unemployment rate, average hourly earnings, private payrolls, non-farm payrolls, underemployment rate, average weekly hours and participation rate will be reported. Moreover, the EIA will release its report on natural gas inventories. Canada is expected to report its data on unemployment rate, part time employment change, building permits, participation rate and purchasing managers’ index.

In United Kingdom, data on producer price index output and input is to be reported. In Switzerland, data on foreign currency reserves and consumer price index will be reported.

The single currency reached its lowest level since July 2010 in reaction to escalating worries over the potential exits of Greece from the euro zone. Investors were looking up to the ongoing meeting of the European Leaders and it was rumored that each European country discussed a contingency plan in case the Greece is excluded from the European Union.

On the other hand, Greece’s Ex-Prime Minister, Lucas Papademos said in an interview at Dow Jones Newswire that the consequences would be substantial if Greece is excluded from the European Union.

The euro declined to 1.2544 against the US dollar on Wednesday as compared to 1.2578 on Tuesday’s North American trading session. It was lowest for the pair EUR/USD since July 2010 as the single currency has never touched below $1.26 level since then.

The ICE dollar index DXY which measures the US dollar’s performance against its six rival currencies gained to 82.073 on Wednesday as compared to 81.674 on Tuesday’s late trading hours.

Among other currencies, the Japanese yen recovered versus the US dollar as the Bank of Japan kept the interest rates unchanged and showed no intentions to change its quantitative easing program. The central bank maintained the status quo in its policies despite the political pressures to boost growth and reduce inflation. Against the Japanese yen, the US dollar declined to 79.49 on Wednesday as compared to 79.96 on late Tuesday.

The British Pound fell against the greenback to 1.5698 on Wednesday as compared to 1.5754 on Tuesday. The minutes of latest Bank of England’s monetary policy meeting showed that majority of members voted to makes no changes in the central bank’s bond buying program.

It seems that events are in moving in favor the greenback. The US dollar surged to its highest level since the month of January versus its major rivals mainly driven by substantial fall of Japanese yen. The Japanese yen plunged on Tuesday in reaction to Fitch’s reduced rating for Japan which was decreased to A+ from AA. However many analysts are the opinion that Fitch ratings won’t have any substantial impact on the Japanese yen. Head of G-10 FX strategy, Adam Cole from RBC Capital Markets commented, “With the [Japanese government bond] market almost wholly domestically owned, the ratings agencies are largely irrelevant for the Japanese yen.”

Moreover, the euro also further weakened after comments of Greece’s former prime minister who said that if Greece leaves the euro zone the economic impact on the euro zone would be substantial.

The dollar index DXY which measures the US dollar’s performance against the basket of its six major counterparts gained to 81.674 on Tuesday as compared to 80.970 on Monday’s North American trading session. Against the Japanese yen the US dollar surged to 79.96 on Tuesday as compared to 79.30 on late Monday.

The single currency fell to 1.2688 against the US dollar on Tuesday as compared to 1.2811 on Monday’s late trading hours. The euro fell 0.3 percent against the Japanese yen to 101.38.

Among other currencies, the British Pound fell to 1.5754 versus the greenback as compared to 1.5829 on late Monday. The British Pound declined in reaction to decrease in UK’s inflation as the consumer price index stood at 3 percent in April as compared to 3.5 percent in March while analysts were expecting the reading of 3 percent. Many analysts were doubtful now that whether the current economic data would clear the way for Bank of England’s quantitative easing program.