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The U.K. is printing production and spending related reports this week! Will the numbers point to a recovering economy?

Here are the domestic releases you should know about:

CPI and PPI reports (Aug 19, 7:00 am GMT)

  • Producer input prices to slow down from 2.4% to 1.2% in July
  • Producer output prices could maintain 0.3% growth pace
  • Headline inflation to accelerate from 0.1% to 0.2% in July
  • Annual inflation seen improving from 0.6% to 0.8%
  • Core inflation to slow down from 0.2% to 0.1%?
  • Annual core inflation to print at 1.5% after 1.4% rise in June

Retail sales (Aug 21, 7:00 am GMT)

Markit PMIs (Aug 21, 9:30 am GMT

  • Manufacturing activity expected to pick up from 53.3 to 53.4 in August
  • Services sector to improve from 56.5 to 57.4?

Technical snapshot

  • RSI finds the pound “overbought” against JPY and NZD
  • GBP/USD may soon hit overbought status on the daily time frame
GBP Forex Pairs RSI from MarketMilk
GBP Forex Pairs RSI from MarketMilk
  • GBP/JPY, GBP/NZD, GBP/USD, and EUR/GBP are all on short AND long-term uptrends on the daily time frame
  • We could be seeing some short-term retracements on GBP/AUD, GBP/CAD, and GBP/CHF
GBP Forex Pairs EMAs from MarketMilk
GBP Forex Pairs EMAs from MarketMilk
  • The pound has been most volatile against the comdolls and the franc in the last seven days
GBP Forex Pairs Volatility from MarketMilk
GBP Forex Pairs Volatility from MarketMilk

Missed last week’s price action? Read GBP’s price recap for August 10 – 14!