Weekly outlook for the pair GBP/USD for the period ending May 11th is as follows:

Yesterday, in United States, data on consumer credit was reported. On Tuesday, United States published its data on NFIB Small Business Optimism and TIPP economic optimism while US Federal Reserve’s officials Lacker and Fisher addressed on monetary policy and US economy at separate events. United Kingdom reported its data on employment confidence, house price balance, and BRC shop price index.

On Wednesday, United Kingdom will publish the report on BRC sales while United States will release several reports including data on MBA Mortgage approvals, wholesale inventories, and supplies data on crude oil, gasoline and distillates by the Energy Information Administration. Further, US Fed’s official Plosser and Pianalto are expected to speak in Philadelphia and Lexington respectively.

On Thursday, in United Kingdom, data on trade balance, manufacturing production and industrial production will be published. Moreover, the Bank of England will release figures on its asset purchase target and key interest rate decision. UK will also release it gross domestic product estimate.

In United States, official figures on weekly initial jobless claims, continuing claims, import price index, monthly budget statement and natural gas inventories data by EIA will be published.  Federal Reserve’s official Kocherlakota will address on monetary policy in Minneapolis on Thursday which will be closely watched to assess the future direction of the monetary policy.

On Friday, United Kingdom is expected to publish its report on producer price index on Friday. In United States, data on producer price index and University of Michigan’s index on consumer confidence will be reported

Economic events which could affect the trading of the pair EUR/USD for the week ending May 11th, 2012 are as follows:

On Monday, May 7^th, 2012, euro zone released its Sentix Investor Confidence while in Germany reported its data on factory orders. In United States, data on consumer credit was reported.

On Tuesday, Germany came up with data on industrial production and wholesale price inde while in United States, data on NFIB Small Business Optimism and TIPP economic optimism was reported while US Federal Reserve’s officials Lacker and Fisher addressed on US economy at separate events.

On Wednesday, May 9^th, official figure on Germany’s trade balance and current account will be reported in the euro zone while in United States, several reports will be published including data on MBA Mortgage approvals, wholesale inventories and inventories data on crude oil, gasoline and distillates by the US Department of Energy. Moreover, US Federal Reserve’s official Plosser and Pianalto will speak in Philadelphia and Lexington respectively.

On Thursday, May 10^th, 2012, European Central Bank will publish its monthly report for the single currency region while in United States, reports on weekly initial jobless claims, continuing claims, import price index, monthly budget statement and natural gas inventories data by EIA will be published.  Moreover, Federal Reserve’s official Kocherlakota will address on monetary policy in Minneapolis on Thursday.

On Friday, May 11^th, data on Germany’s consumer price index will be released while European Commission will publish its data on economic growth forecasts. In United States, data on producer price index and University of Michigan’s index on consumer confidence will be reported.