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A handful of top-tier reports are due from the U.K. this week, possibly shedding more light on what the BOE might do next. Here’s what to expect:

U.K. preliminary GDP (Nov. 11, 9:30 am GMT)

  • Growth expected to rebound by 0.4% in Q3 after earlier 0.2% contraction
  • Another negative read would put the U.K. in a technical recession
  • If so, BOE rate cut expectations could pick up as two MPC members already voted to cut last week
  • Annual GDP is expected to show a 1.1% expansion

U.K. jobs figures (Nov. 12, 9:30 am GMT)

  • Claimant count to increase by 24.2K vs. 21.1K previous in Oct
  • Average earnings index to hold steady at 3.8% for the three-month period ending in September
  • Unemployment rate to also stay unchanged at 3.9% for the same month

U.K. CPI (Nov. 13, 9:30 am GMT)

  • Headline CPI projected to ease from 1.7% to 1.6% in October
  • Price pressures have been on the decline in the past three months
  • Core CPI likely to hold steady at 1.7% for the same month
  • Weaker than expected results could fuel BOE easing hopes as well

U.K. retail sales (Nov. 14, 9:30 am GMT)

  • Increase of 0.2% is eyed after flat reading in previous month
  • Actual results turned out better than expected for three out of the past five months

Brexit developments

  • Surveys ahead of the December 12 snap general elections could also push GBP pairs around
  • Based on the 14-day average of voting intentions, Conservatives still stand at 39% while Labour is at 27%

Technical Snapshot

  • Sterling is bullish against the rest of its peers based on the SMAs, having the strongest lead against the euro and Kiwi
GBP SMAs from MarketMilk
GBP SMAs from MarketMilk

GBP Pairs Volatility
GBP Pairs Volatility

Missed last week’s price action? Read GBPs price recap for Nov. 4 – 8!