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Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Pound started the week with the growth. Overview for 19.09.2016
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The Pound started the week with the growth. Overview for 19.09.2016

Although the statistics calendar is empty and the news is rather neutral, the GBP/USD pair is growing.

The Monday morning is quite calm for the British Pound. The current quote for the GBP/USD pair is 1.3049.

Today’s growth of the Pound, which is rather symbolic, doesn’t exceed the sales that took place last Friday. In anticipation of another meeting of the Fed, the market is leaning more towards the USD, but still prefers to save its strengths and avoid any risks until the American regulator “puts all cards on the table”.

The macroeconomic calendar is almost empty today as it contains only minor and secondary statistics. For example, the Rightmove House Price Index added 0.7% m/m in August after decreasing by 1.2% m/m in July. On a year-on-year basis, the indicator increased by 4% last month.

It is usually believed that the real estate market is very sensitive to economic fluctuations and reforms. In general, real estate prices growth shows consumers’ confidence that the situation in the British economy won’t change significantly whether the country leaves the European Union or remains its member on special conditions.

The key event of the week is the Fed meeting, which will be over on Wednesday evening, September 21st. Until that, the currency market is quite unlikely to be very active.
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