Back
11 Aug 2014
Key week ahead for the GBP - Investec
FXStreet (Barcelona) - Jonathan Pryor, Corporate Treasury Analyst at Investec, remarks this week's key events in the UK economy.
Key Quotes
"The data focus shifts this week to the Pound and as such we may see UK data become more important. Recently the GBPUSD exchange rate has been more affected by Dollar safe haven buying rather than timings around when the Bank of England might start to raise interest rates this year or next."
"Although we have a light calendar today, on Wednesday we see important employment and wage growth data - being watched as a potential inflation trigger, followed by the Quarterly Inflation Report and testimony. The Monetary Policy Committee decided to hold interest rates at 0.5% last week but the chance of revised growth and inflation paths, and a platform to highlight the committee's discussion on economic slack ahead of the meeting minutes release, makes the Inflation Report a particularly important event if the committee wants to signal a hike this year."
Key Quotes
"The data focus shifts this week to the Pound and as such we may see UK data become more important. Recently the GBPUSD exchange rate has been more affected by Dollar safe haven buying rather than timings around when the Bank of England might start to raise interest rates this year or next."
"Although we have a light calendar today, on Wednesday we see important employment and wage growth data - being watched as a potential inflation trigger, followed by the Quarterly Inflation Report and testimony. The Monetary Policy Committee decided to hold interest rates at 0.5% last week but the chance of revised growth and inflation paths, and a platform to highlight the committee's discussion on economic slack ahead of the meeting minutes release, makes the Inflation Report a particularly important event if the committee wants to signal a hike this year."