1Finance

GBP/USD was making attempts to recover but did not go anywhere fast and found itself grinding lower. The upcoming week feature the manufacturing PMI as well as other figures.

1. Nationwide HPI: Tuesday, 6:00. Various housing price indices have been pointing downwards, but Nationwide’s figure has shown a rise of 0.3% in July.
2. BRC Shop Price Index: Tuesday, 23:01. The British Retail Consortium’s measure provides another gauge on consumer activity. It dropped by 0.4% y/y in June.
3. Net Lending to Individuals: Wednesday, 8:30. The level of lending indicates economic activity but also a credit binge that the BOE fears. A rise of 5.6 billion was reported in June, higher than expected
4. Mortgage Approvals: Wednesday, 8:30. This official figure by the BOE has shown stability in the number of approvals at 65K, for the third consecutive month in June.
5. GfK Consumer Confidence: Wednesday, 23:01. This 2000-strong survey by GfK has been leaning lower in the past few months. A disappointing drop to -12 was reported in July, worse than projected.
6. Manufacturing PMI: Friday, 8:30. Markit’s purchasing managers’ indicator for the manufacturing sector beat expectations and reached 55.1 points in July.

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