The Pound
On Tuesday, the BRC Retail Sales Monitor will impact buyer demand for the Pound. Upward trends in the Retail Sales Monitor would signal improving consumer spending trends.
However, house price figures also need consideration on Tuesday. An improving housing sector backdrop could raise consumer confidence and spending trends. The BoE could temper investor expectations of an interest rate cut to curb consumption.
While the numbers will draw interest, the Bank of England monetary policy decision will be pivotal. On Thursday (May 9), economists expect the BoE to leave interest rates at 5.25%. The vote count, the MPC Meeting Minutes, and Bank of the England Governor Andrew Bailey speech will move the dial.
On Friday (May 10), UK GDP, trade, production numbers, and trade data will be in focus. The GDP and production numbers will likely impact the BoE rate path more.
With…
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