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Wrap Up 15-19 April GBPUSD Down 0.70%

Rightmove HPI m/m

2.1%

1.7%

CPI y/y

2.8%

2.8%

2.8%

PPI Input m/m

-0.1%

-0.3%

2.8%

RPI y/y

3.3%

3.3%

3.2%

Core CPI y/y

2.4%

2.3%

2.3%

HPI y/y

1.9%

2.8%

2.2%

PPI Output m/m

0.3%

0.3%

0.8%

Claimant Count Change

-7.0K

0.0K

-5.3K

MPC Meeting Minutes

0-0-9

0-0-9

0-0-9

Unemployment Rate

7.9%

7.8%

7.8%

Average Earnings Index 3m/y

0.8%

1.4%

1.2%

Retail Sales m/m

-0.7%

-0.7%

2.1%

30-y Bond Auction

3.12|1.7

2.95|1.5

The economic data published last week for United Kingdom were relatively low. The PPI came -0.1%, considerably low comparing to last month, and the CPI remained unchanged. The unemployment rate got to 7.9% and the Average earnings rose only 0.8%. Bad news did not stop coming for UK. Friday Fitch cut the countries rating from AAA to AA+ with a stable outlook. Fitch was the second company that has cut the rating in the last 2 months.

Next week the Public Sector Net Borrowing is expected to rise at 13.9B and the prelim GDP to hit 0.1%.

wrap-up-15-19-gbpusd-down-0.70-21.04.2013

The technical overview is not that good for GBPUSD. After a 0.70% fall last week the Great Britain pound might fall another 1 – 1.25% next week, especially if the GDP will not hit market expectations. It seems that this up move was only meant to retest 38.2 Fibonacci retrace.

Wrap Up 15-19 April GBPUSD Down 0.70% by
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