Will sterling hold up in a slow week for UK data?

Sterling had a mixed end to the week, with economic data released outside of the UK seeming to have a greater bearing on sterling’s strength than figures released domestically. From the UK, better than expected house price index figures and increased consumer inflation expectations gave further encouraging signs of a resurgent UK economy. On the day, however, sterling remained little changed against the US dollar as the American currency began to fight back, while losses were experienced against the euro due to events in the Eurozone garnering it support. The Bank of England Governor Mark Carney will kick off this week with a speech today, before we see a raft of data released on Tuesday. October monthly manufacturing production figures and trade balance data and the November GDP estimate from the National Institute of Economic and Social Research (NIESR) will be released  and so we could see some movement for sterling on Tuesday. The rest of the week is quiet for UK data releases but several members of the Monetary Policy Committee members are due to speak throughout the remainder of the week. Get in touch with your trader now for the latest sterling rates, at the start of a potentially quiet week from the UK.