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The spotlight turns back to economic reports from the U.K. as the CPI and claimant count figures are lined up.

The monthly GDP and a speech by BOE Guv’nah Bailey are also on this week’s docket and might spur strong GBP action.

Here’s what to expect:

BOE head Bailey’s speech (July 13, 4:30 pm GMT)

  • Will participate in a panel discussion titled “Libor: Entering the Endgame” at a webinar co-hosted by the BOE and Fed
  • Remarks related to monetary policy biases could push pound pairs in a strong direction
  • Audience questions concerning pandemic response and Brexit are also expected

U.K. inflation data (July 15, 7:00 am GMT)

  • Headline CPI to hold steady at 0.5% y/y in June
  • Core CPI likely to stay at 1.2% y/y as well
  • Producer input prices expected to post 3.0% jump after earlier 0.3% uptick
  • Producer output prices likely recovered by 0.2% after previous 0.3% dip
  • RPI to tick higher from 1.0% to 1.1%
  • HPI to slide from 2.1% to 1.9%

U.K. jobs figures (July 16, 7:00 am GMT)

  • June claimant count to show 250K increase after earlier 528.9K gain
  • Average earnings index to show 0.4% decline in the three-month period ending in May
  • Unemployment rate likely climbed from 3.9% to 4.1%

Technical snapshot

  • Stochastic suggests that most GBP pairs are bearish in the overbought region.
GBP Pairs Stochastic from MarketMilk
GBP Pairs Stochastic from MarketMilk
GBP Pairs Moving Averages from MarketMilk
GBP Pairs Moving Averages from MarketMilk
  • Only GBP/CAD and EUR/GBP are giving off bullish vibes

Missed last week’s price action? Don’t forget to check out the GBP Weekly Review for July 6 – 10!