The GBP range traded on Tuesday as concerns regarding the EUR centric story shadowed the Sterling enough to create a headwind. Final Mortgage Approvals from the U.K. came in slightly under their estimate with an outcome of 50K compared to the anticipated number of 52K. Of some interest for investors today is the fact that the Final GDP release, which had been scheduled for today, has been pushed back a couple of weeks as the office responsible for its numbers has announced that an error has been found in the accounting. Thus, the Nationwide HPI will be the focus regarding data today and a gain of 0.3% is forecasted. Tomorrow the Manufacturing PMI is on the calendar. The question for the Sterling today will be how the counterweights of the U.K.’s austerity and the EUR centric shadows will play out.
Written by bforex.com