Expect sterling movement in a busy week for UK data

This week there is a large volume of data released in the UK which is liable to cause movement in sterling’s exchange rate. Sterling had a disappointing end to last week as the Manufacturing Purchasing Managers Index (PMI) figures fell slightly short of market estimates whilst last month’s figures were downgraded.  The construction and services sectors will release their PMI figures on Monday and Tuesday respectively. Monthly manufacturing production on Wednesday precedes Thursday’s influential Bank of England rate setting meeting. At present, no change is expected with regards to the base interest rate or to the level of quantitative easing. Any further guidance as to when we could see a change in monetary policy from the meeting is sure to be the biggest talking point. Get in touch with your trader for the latest news on sterling in a very busy week for UK data releases.