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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.
- This is mostly confirmed by long-term trend strength analysis using moving averages, which puts the majority of the pairs in bearish territory
- 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!
