EUR/GBP
The euro against the sterling was also showing a negative trend last week, as it opened at 0.8184 and closed 0.8182. On August 17, a huge rise was scored gave positive sentiment among traders, but on the following day it headed downwards again. The euro is strictly dropping against the pound again, this week. The opening trading price on Monday was 0.8174 and is currently at 0.8172. It is yet early to say what’s about to happen by Friday.
Tuesday
BBA Mortgage Approvals, 9:30 a.m. GMT. British Bankers’ Association Mortgage Approvals. This is a leading indicator of housing market demand. Since most buyers finance their home purchases with a mortgage, the index shows how many qualified buyers are entering the market. An increase is expected – from 34.8K to 36.3K, which will be good for the currency.
Thursday
Nationwide HPI m/m, 26th-31st. The index is of a great impact because it measures the change in the selling price of homes with mortgages backed by Nationwide. A small rise is expected this month – from -0.5% to -0.3%.
CBI Realized Sales, 11:00 a.m. GMT. Confederation of British Industry Realized Sales. The index is a major indicator of consumer spending because sales are directly influenced by consumer buying levels. The index shows high fluctuations every month and last time the forecast was for 2, and it came out to be 33. Now, experts predict it will go down to 25.
Revised GDP q/q, 9:30 a.m. GMT. This is the broadest measure of economic activity and health. This month, experts say, it will remain the same as last month – 1.1%.
Prelim Business Investment q/q, 9:30 a.m. GMT. This is also a major indicator of economic health as businesses are directly affected by market conditions. The forecast is quite low and if it comes true, it will mean that market conditions are unstable for businesses, and it will affect hiring, spending, earnings, etc. Last month’s 7.8% is said to drop as low as 2.3%.
Saturday
MPC Member Bean Speaks, 16:00 p.m. GMT. The BOE (Bank of England) Deputy Governor Charles Bean will speak on Saturday, when BOE MPC (Monetary Policy Committee) members will vote on where to set the nation’s key interest rates.
