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