GBP Outlook

28 July, 2011


With little data released this week, the Pound has continued its upward trend after a blip on Thursday after poor UK retail sales figures.

We are currently very near the best Euro exchange rates this year so far, and whether the Pound can find any more strength from here will become apparent this week. Analysts were only expecting 1.20 to be achieved towards the end of the year, so we would be surprised to see much more movement in the short term.

This week:

Today 9am – German IFO business survey

Tuesday 9am – European PMI (inflation indicator)

Wednesday 7.15pm – American interest rate decision & speech

Thursday 7am – Nationwide UK house price survey

Thursday 7am – US GDP