The Sterling has continued to maintain its gains made the past few weeks and is giving traders an opportunity to test its strong range. Today the RICS House Price Balance and the BRCS Retail Sales Monitor will be released. Tomorrow Trade Balance statistics will be published. Also of note is that Wednesday will be the day in which the Inflation Report is brought forth from the Bank of England. The GBP has had a significant run up in value the past couple of months as investors have reacted positively to the austerity program enacted by the government. The data that will come over the next three days will provide further insight into just how traders are gauging the currency markets. Short term trading is far different than long term trading and the question is how much a role risk appetite is playing into the Sterling’s levels that are being seen. Any negative surprises in data could cause volatility, but the GBP continues to behave in a strong manner.
Written by bforex.com
