Forecast Pound Sterling FX Currency Market Data Highlights for Week Commencing 30th November

November 30, 2015 - Written by Minesh Chaudhari

STORY LINK Forecast Pound Sterling FX Currency Market Data Highlights for Week Commencing 30th November

GBP Exchange Rate Forecast to see Volatility in Response to Sectoral Surveys This Week

A trio of CIPS / Markit surveys of three leading sectors of the UK economy are forecast by analysts to be market-moving for the Pound Sterling (currency : GBP) during this week’s session.

Last Friday brought official confirmation from the UK’s Office of National Statistics (ONS) that the domestic economy expanded by only 0.5% in the three months to the end of September - a pronounced slowdown from Q2’s counterpart print of 0.7%.

Investors holding Sterling-denominated assets will be eyeballing this week’s sectoral surveys for some confirmation that the Q4 GDP data for the British economy, due out early in 2016, will be stronger.

UK Manufacturing and Construction Output Predicted to Improve

The Purchasing Managers Index survey of the UK’s manufacturing sector leads the way at 0930hrs GMT tomorrow morning and analysts are anticipating a strong improvement from October’s print of 54.0.

Any result of above the break-even 50.0 level shows that the sector is expanding and if, as expected, the result comes in at 55.5, then that will point to an accelerated pace of expansion for manufacturing in the UK.

Wednesday morning brings the release of the latest CIPS / Markit PMI survey of the construction sector of the UK economy; again, expectations are high, with analysts predicting a print of 58.8 versus October’s 58.5.

British Services Sector Expected to Drop Marginally Lower in November

However, Pound-watchers will have to wait until Thursday morning for the publication of the most important PMI survey of the week comes on Thursday with the release of November’s CIPS / Markit services sector survey.

The combined tertiary industries comprise almost three quarters of all economic activity for the local economy, but this month’s version is not expected to be helpful to the Pound.

October’s result came in at 55.0 and the November edition is forecast to show at a marginally lower level of 54.9.

Such an outcome is likely to hold back the Pound’s process as the weekend market shutdown approaches.

International Money Transfer? Ask our resident FX expert a money transfer question or try John's new, free, no-obligation personal service! ,where he helps every step of the way, ensuring you get the best exchange rates on your currency requirements.

TAGS: Pound Sterling Forecasts