Corporate foreign exchange news
Foreign exchange news: Pound bearish ahead of GDP revisions
Monday, 23 November 2009 09:56:33 GMT

The outlook for the pound remains bearish this week ahead of revised gross domestic product (GDP) data due to be published on Wednesday (November 25th), Daily FX reports.In a weekly forecast, site analyst Terri Balkas declared that the market expects to see a slight improvement in the revised third-quarter GDP figures, but this will not be sufficient to boost confidence in the pound.More positive news is expected this week in the form of the British Bankers' Association's latest loans for house purchase survey, which is expected to show further strengthening in mortgage lending.However, this will be largely offset by the total business investment survey, which is expected to reveal extended contraction in overall commercial spending. Both data sets will be published on Tuesday.Looking further ahead, Georgina Taylor, equity strategist at Legal and General Investment Management, predicted in the FT Adviser that inflation risks are likely to remain subdued throughout 2010.



