There’s not much in the way of major releases from the U.K. this week. Can sterling pairs get some volatility elsewhere?
Low-tier U.K. economic data
- U.K. final services PMI due Jan. 6, upgrade from 49.0 to 49.1 expected
- Halifax HPI to post 0.6% uptick after earlier 1.0% gain
- BRC retail sales monitor to post 0.5% dip after previous 4.9% slide
Brexit-related updates
- Even though the general election results eased some Brexit uncertainty, pound traders are still keeping close tabs on potential challenges.
- U.K. Prime Minister Johnson and EC President Von Der Leyen are scheduled to meet on Jan. 8 to discuss details of the transition deal.
- PM Johnson has reiterated that he isn’t willing to extend the exit date past the end of this month.
Technical Snapshot
- Moving averages show that sterling pairs are looking mixed but mostly leaning towards bearish territory.
- Stochastic, however, reveals that GBP/CAD, GBP/CHF, and GBP/JPY are oversold.
