Only a handful of low-tier reports are on the docket for the U.K. economy this week, but it might be helpful to keep tabs on these leading indicators.
Mid-tier U.K. data
- Final Nov. manufacturing PMI (Dec. 1, 10:30 am GMT) no revisions to 55.2 reading eyed
- BRC price shop index y/y (Dec. 2, 1:00 am GMT) to post rebound in price levels
- Final Nov. services PMI (Dec. 3, 10:30 am GMT) no revisions to 45.8 figure expected
- BRC retail sales monitor (Dec. 4, 1:00 am GMT) to indicate uptick in spending
Brexit updates
- Officials from both the U.K. and the EU say that talks are in their “last week”
- EU chief negotiator Barnier says there are still “significant divergences” in the fisheries issue, so there’s still a chance of a no deal situation
- Keep in mind that there is only one month to go before the U.K. officially exits the EU, so rising odds of an agreement could clear up uncertainties
Technical snapshot
- Stochastic paints a mixed picture of overbought and oversold conditions for pound pairs.
- GBP/NZD is looking bullish while GBP/USD is in the bearish region, leaving the rest in neutral territory
- GBP/NZD remains the most volatile among the pound pairs over the past seven days, followed by GBP/AUD
Missed last week’s price action? Read GBP’s price recap for Nov. 23 – 27!
