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GBP/USD extended its falls amid Brexit uncertainty and unimpressive economic data. Will it head below 1.30? The upcoming week features industrial output, the trade balance and more. Here are the key events for GBP/USD.

1. BRC Retail Sales Monitor: Monday, 23:00. The British Retail Consortium has shown a rise in sales in the past three months, a positive sign after some worries beforehand. After an advance of 1.3% in August, perhaps we will see a slide in September.
2. Industrial output: Tuesday, 8:30. While the UK economy leans heavily towards services, the industry still plays an important role. A rise of 0.2% was seen in industrial production back in July. The narrower manufacturing production advanced by 0.5% and is now expected to rise by 0.3%.
3. Goods Trade Balance: Tuesday, 8:30. Britain suffers from a trade deficit, which has worsened in the past year. A deficit of 11.6 billion was recorded in July. A similar deficit is on the cards now: 11.2 billion.
4. Construction Output: Tuesday, 8:30. The construction sector is suffering from contraction according to the latest PMI by Markit. It will be interesting to see if we will see another fall after -0.9% in July. A small rise is forecast now: 0.1%.
5. NIESR GDP Estimate: Tuesday, 12:00. The National Institute of Economic and Social Research provides a running estimate of GDP. In the three months ending in August, it showed a growth rate of 0.4%, better than in previous months. We will now get the figure for June to September, which is exactly Q3.
6. RICS House Price Balance: Wednesday, 23:01. The Royal Institution of Chartered Surveyors publishes a monthly diffusion index for the housing sector. It almost fell to the negative ground in July but bounced back to 6%. A small slide to 4% is estimated now.
7. BOE Credit Conditions Survey: Thursday, 8:30. The Bank of England’s report on credit conditions is watched for rate hike assessments. If conditions are too loose, the BOE has higher incentives to raise rates.
8. CB Leading Index: Friday, 13:30. This composite index uses 7 indicators, most of them already public. Nevertheless, it is of interest. A drop of 0.1% was recorded in July.

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