We have seen a couple of flat days for the GBP/USD cross since rates dropped back into the high 1.69's. The current lull is purely down to a lack of data from both sides of the pond and provided the dollar with a welcomed break from the pounds recent march against the Greenback, in which we have seen it lose over 18 cents and hit a 6 year high.
Today starts a busy few days for USD data releases starting at 3:00pm BST in the form of a 'Consumer Confidence' survey. A nice way to ease GBP/USD into tomorrow when we will see the main market moving data released.
Wednesday's Data Releases
Wednesday's raft of data starts just after lunchtime when the change in non-farm employment is announced, this usually important data releases is likely to be overshadowed however, as analysts and investors look towards the US's 2nd quarter GDP figures. A huge improvement is expected for the states as forecasts expect a 3.1% expansion, a sharp contrast to the 2.9% retraction we saw last quarter.
So What Should I Do?
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