Sterling had a good week last week, gaining ground against most other currencies, but this was on the back of news from elsewhere as UK data releases were limited.
This week is very different as we have the three sets of November UK Purchasing Managers Indices; Manufacturing today, Construction tomorrow and Services on Wednesday. Expectations are for the first two to show a slight decline and the final one, and the key one given its importance to the UK economy, a slight improvement. We also have the Bank of England’s second “Super Thursday” where we see the release of the latest interest rate decision, no change expected, the meeting minutes and the final inflation report for the year.
So lots of data to affect sterling, plus lots of news from elsewhere, so we could be in for another “interesting” week for sterling. Therefore if you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.