The flow of UK data releases was minimal last week. The most exciting event seemed to be England beating the Australians at cricket. This week will be very different with the flow of UK data releases high and the potential for sterling seeing some significant movement much higher although it would be nice if we continued to beat the Australians at cricket.
The week ahead sees a raft of data released from the UK. Monday sees the first of the week’s Purchasing Managers’ Index (PMI) data, for manufacturing – while data from the construction sector follows on Tuesday. Investors will be keenly awaiting service industry data due on Wednesday, but Thursday looks set to be the most influential day as the Bank of England (BoE) releases their interest rate decision, minutes from their last meeting, and inflation report in the same day. Most analysts expect the BoE to raise interest rates in early 2016, and investors will be looking for any indicators in these minutes and the other data releases.