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The U.K. is printing some lower-tier data, which could take a backseat if we see any Brexit updates this week.

Which economic reports should we look out for?

Check out the potential catalysts that might influence Sterling’s intraweek trends:

Lower-tier data releases

  • Nationwide house prices could slow down from 0.9% to 0.5% and drag its annual reading from 5.0% to 4.7% in October
  • CBI realized sales (Oct 27, 11:00 am GMT) seen dropping to -6 after an 11.0 reading in September
  • BRC shop price index (Oct 28, 12:01 am GMT) has printed a 1.6% dip two months in a row in September
  • Mortgage approvals (Oct 29, 9:30 am GMT) to slow down from 85K to 76K in September?
  • Net individual lending (Oct 29, 9:30 am GMT) could improve from 3.1B GBP to 3.5B GBP in September

Overall risk appetite

  • The continuation of the Brexit negotiations after the October 15 “deadline” is likely priced in
  • Unless there are progress or fresh headlines about the negotiation, GBP will likely take its cues from overall risk sentiment
  • Some broad market catalysts include the U.S. Presidential elections, second wave lockdown concerns, quarterly GDP releases from the U.S. and eurozone, and BOC, BOJ, and ECB’s policy statements

Technical snapshot

GBP Forex Pairs Performance from MarketMilk
GBP Forex Pairs Performance from MarketMilk
  • EMAs show GBP’s short and long-term bearish trends against JPY, EUR, CHF, and NZD
  • GBP/USD is still on a low key uptrend on the daily time frame
  • Watch out for retracement or reversal opportunities on GBP/AUD
GBP Forex Pairs EMAs from MarketMilk
GBP Forex Pairs EMAs from MarketMilk
  • The pound was most volatile against the comdolls and safe-havens like the dollar and franc in the last seven days
GBP Forex Pairs Volatility from MarketMilk
GBP Forex Pairs Volatility from MarketMilk