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Forex Analysis
by ForexNewsNow Team on November 20th, 2010

British Pound Weekly Outlook: The Top 10 GBP related events Nov. 22-26

gbp usd eur realtime forex newsNEW YORK (Forex News Now) – The FNN team has prepared a list of the top 10 economic events most likely to impact GBP  and make realtime forex news during the coming week, Nov. 22-26.

All times are given in GMT.

  1. BBA Loans for house purchase: Tuesday, 4:30 A.M. – The British Bankers Association will announce the number of loans taken out in the country for purchasing homes. The figure is indicative of the strength of the housing marketing and also suggests consumer confidence. Previous: 31,104. Consensus Estimate: —
  2. British Gross Domestic Product QoQ: Wednesday, 4:30 A.M. – The Office for National Statistics will release its GDP report for the third quarter on a QoQ basis. Previous: 0.8%. Consensus Estimate: 0.8%
  3. British Gross Domestic Product YoY: Wednesday, 4:30 A.M. – The Office for National Statistics will release its GDP report for the third quarter on a YoY basis. This report provides a longer-term view of the British economy and can confirm or upset economic expectations. Previous: 2.8%. Consensus Estimate: 2.6%
  4. Imports and exports: Wednesday, 4:30 A.M. – The British government will announce its import and export figures for the third quarter. Previous: 1.1% (exports) 0.9% (imports). Consensus Estimate: —
  5. Government spending report: Wednesday, 4:30 A.M. – Government spending is a contributor to the British economy. This report gives an insight into changes in government spending, by sector and purpose. Previous: 0.3% Consensus Estimate: —
  6. Gross fixed capital formation: Wednesday, 4:30 A.M. – The Office for National Statistics is set to release the gross fixed capital formation (GFCF) report for the third quarter. This report helps indicate how much value in the economy is invested rather than consumed, which indicates levels of investing in fixed assets (not financial ones). Previous: -2.4%. Consensus Estimate: —
  7. Index of services for September: Wednesday, 4:30 A.M. – The Office for National Statistics will release its index of services report, which tracks the growth in output of the service sector on a quarter-on-quarter basis. The services sector is the largest sector in the economy and makes up 73% of GDP. Previous: 0.3. Consensus Estimate: —
  8. Private consumption (3Q): Wednesday, 4:30 A.M. – As with other developed nations, the UK’s economy is fueled by private consumption.  Previous: 0.7%. Consensus Estimate: —
  9. Total business investment (QoQ): Wednesday, 4:30 A.M. – Business investment is another core mover of the British economy. Consistent growth in total business investment is a sign of a strengthening economy, and usually results in increases to GDP down the road.  Previous: 0.7%. Consensus Estimate: —
  10. CBI Trends Total Orders for November: Thursday, 6:00 A.M. –The Confederation of British Industry will release its total orders report for the month of November. This report reveals the total manufacturing output for the short term. Previous: -28. Consensus Estimate: —

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