'Sterling data this week: Impact on Pound's Value'

Market update, big week for Sterling £

There will be a lot of attention on the UK and the pound this week with a flood of data releases each of which is capable of creating significant volatility in the pounds value. This evening Bank of England (BoE) Governor Andrew Bailey is due to give a speech. Traders will be listening out for any subtle hints as to the timing of interest cuts expected later this year.

Tuesday morning will then see the latest release of the UK jobs report including wage growth figures. Wage growth has been a key contributor and influencer on inflation so if this figure is particularly wide of the mark it could affect the timing of any potential interest rate cuts.

This is followed on Wednesday by the latest UK inflation (CPI) figure. The expectation is for a modest increase to 4.1% which is more than double the BoE 2% target hence their current reluctance to cut rates. Andrew Baily will be testifying before the House of Lords Economic Affairs Committee in the afternoon and may well provide further thoughts and reaction to both the jobs data and inflation reading.

The focus on the UK continues as we move to Thursday morning with the release of the latest UK GDP figure, which is expected  to have slipped to -0.1% for the quarter which would suggest the threat of a recession is still apparent.

Then on Friday morning we round out the busy week with the latest UK retail sales figures for January which will be the first hint as to how consumers are feeling coming in the new year following what was particularly poor December for retailers generally. Make sure you remain informed of all of this and more by following PathFinder FX.

You can also follow us on X (Twitter) we will be updating our feeds with the latest news as it breaks and impact on the pounds value. @PathFinderFX 

We would also welcome the chance to speak with you to provide further context as to how this news will directly affect your business now and in the future and how to take advantage of any opportunities it presents.

'Sterling data this week: Impact on Pound's Value'

'Sterling data this week: Impact on Pound's Value'