Heavy Calendar Should Lead to Big Moves in the British Pound

Stronger economic data has driven the British pound higher against the Euro, Japanese Yen, and Swiss franc but unfortunately, that strength did not extend to the GBP/USD.

As correctly forecasted by the increase in manufacturing PMI, industrial production grew by a more than expected 0.3 percent in the month of April. House prices also continued to accelerate bringing the annualized pace of growth up 8.5 percent from 8.4 in the month of May. The UK has one of the busiest calendars next week with producer prices, consumer prices, employment and retail sales due for release. So expect to see big moves in the British pound.