Following on from yesterday's boost to GBP in the wake of the release of the MPC Minutes we note sterling is mixed this morning - we have some retail sales numbers from the ONS at 9:30 which are predicted to confirm an improving UK economy and to solidify recent gains in GBP.

Highlights:

@9:30: UK retail sales beat expectations underpinning sterling
@11:30: IMF warnings back views that Bank of England has space to be accomodative

August 28,2013

Today's BoE minutes were just the prelude to the biggest market event of the day/week—the Fed Chairman’s testimony in front of US policy makers.

August 28,2013

Today should see interest spike in the British pound, we forecast a volatile session that will surely set the tone for GBP in coming weeks. The big event is that of the release of this month's Bank of England MPC minutes, in addition we have employment numbers to digest on the economic front.

Highlights:

@9:30: Good employment data boosts sterling
@9:42: Sterling in dramatic surge as Bank of England MPC vote unanimously to keep QE on hold
@11:16: RBS see threat of quantitative easing riding into the sunset 

August 28,2013

Today the British pound faces a host of economic releases which, at the dawn of the Carney era, should gain some additional weighting. Should inflation come in above expectations (see below) then expect sterling to appreciate. Any surprises to the downside should hasten losses in the UK currency.

July 17,2013