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.ADNFCR-2522-ID-19472510-ADNFCR
Logo

Speak to one of the team

Please get in touch.

Contact details

Corporate FX
5th Floor, 62 Cornhill
London, EC3V 3NH
United Kingdom
Tel: 020 7743 7000
Fax: 020 7743 7001
Email: info@corporate-fx.co.uk

Contact us / Feedback

Thanks for contacting us

Map and directions

We are situated in the heart of the city of London.

Nearest tube/DLR stations:

Bank
Liverpool Street
Aldgate
Monument

Nearest mainline rail stations:

Liverpool Street
Fenchurch Street
Cannon Street

Global Reach Partners Limited; Registered in England No. 4344764. Registered for Money Laundering Regulations and Money Services
Business at Her Majesty's Revenue & Customs registrations No. 12140164. Supervised by the FSA in accordance with the payment
services regulations 2009, registration No. 504315.
© 2009 Global Reach Partners. Site credits