UK Pound Sterling to US Dollar

There will be highs and lows for the pair of UK Pound Sterling and US Dollar this week influenced by publication of US data such as personal income, spending and consumption expenditures along with home sales.

Statistics on US consumer confidence are expected to decline from 96.4 to 96.3 this month. Even statements of US Fed officials can affect exchange rates of USD and GBP, USD and EUR as well as USD and CAD.

There will be pressure on USD with the publication of MARKIT PMI for manufacturing, ISM Prices Paid and Manufacturing, MBA Mortgage Applications, and Employment Change.

Meanwhile, statistics about the national economy are also expected this week. The US Dollar movement can have effects on the market. Also to be released are initial unemployment and continuing claims, trade balance and factory orders.

Improvements in the labor market will likely cause a rally of the US currency as the central bank said before that tightening in unemployment can propel interest rate increases.

However, the jobless rate is not expected to move which can turn out as an upbeat development. Trading on the US dollar trading will surely be influenced by changes in Non-Farm Payrolls, average hourly earnings, and changes in household employment.