The Bank of England will release the MPC Meeting Minutes today, but no great surprises are expected. The Sterling has found calm waters the past two days of trading as it has essentially range traded. The U.K. produced mixed data yesterday as Prelim Mortgage Approvals underperformed and Public Sector Net Borrowing beat estimates by a slight margin. Tomorrow Retail Sales figures will be published and this will be followed on Friday with the Prelim GDP statistics and this is where the facts could hit the road and cause volatility. It is likely that traders may begin to position themselves today ahead of these two big reports. The U.K. has not produced evidence of a strong recovery and the question for investors is if the coming data may in fact suggest that a slide back into recession is at stake.
Written by bforex.com
