Will this week’s data buoy sterling further?

Sterling suffered a little bit on Friday, as the trade balance figures showed that the deficit had widened. This, coupled with strong US labour data, saw sterling weaken from its recent highs against the US dollar. This week we have some key releases which start tomorrow with the Consumer Price Index which could cause some volatility for the currency. Wednesday will likely be the key date this week with both the claimant count change and unemployment rate first thing, preceding the Bank of England’s Inflation report and the accompanying speech from Governor Mark Carney. The last significant piece of data scheduled to be released will be the retail sales figures on Thursday which are currently forecast to show growth of 0.2%. Call your trader now for the latest sterling rates, as the new week brings further developments.