GBP/USD: En-Route To 1.24 As Data Begins To Cover Post-Referendum Period
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
UK data releases finally begin to shift into the post-referendum period in the week ahead with the release of July CPI and retail sales.
Our economists expect CPI to have remained at 0.5% y/y and we expect retail sales to fall by 0.7% following on the 0.9% decline reported for June. Jobs data will also be released covering the April to June pre-referendum period and this release is expected to provide more evidence of already deteriorating activity before the vote.
All this should reinforce expectations for further BOE easing.
We remain bearish on the GBP, targeting GBPUSD to reach 1.24 in the weeks ahead.