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GBP is on track for its longest decline against the Euro in over 9 months

GBP

GBP versus Euro

GBP EUR

This was the longest-setting period from September, with the bank of England’s dim signals and a global risk off mood. The loss strike was extended by five days versus the euro. Sterling fell on Monday after BOE indicated that the stimuli remain unchallenged.

This Week’s Three Things to Keep an Eye On

Employment Data in the United Kingdom
The data due out on Tuesday is expected to show an increase in earnings and a decrease in unemployment claims. If the figures come in as expected, Sterling may strengthen.

GDP in the Eurozone
Although the second estimate for Eurozone second-quarter GDP growth is unlikely to be revised, any surprises are likely to drive EUR movement.

CPI in the United Kingdom
This week’s focus will be on the UK’s CPI, especially in light of the Bank of England’s (BoE) comments earlier this month. Inflation is expected to fall from 2.5 percent to 2.3 percent, but if the figure exceeds that, the value of the pound could rise.

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