Sterling Weakens Ahead of BoE Meeting

Cable traders were taken aback as data on credit lending printed surprisingly upbeat. Readings on consumer sentiment due out tomorrow as sterling attempts to gain traction before the BoE MPC meeting starting on Wednesday.

[B][U]UK Fundamentals:[/U][/B]

[B][I]Next 24 Hours:[/I][/B]
[B]GfK Consumer Confidence Survey
[/B]Forecast: -4
Prior: -3

[B]U.K. CBI July Distributive Trades Report[/B]
[B]Nationwide Consumer Confidence[/B]
Forecast: 93
Prior: 95
[B][I]Last 24 Hours:[/I][/B]
[B]M4 Money Supply (MoM) (JUN F)[/B]
Actual: 0.7%
Previous: 0.8%
[B]M4 Money Supply (YoY) (JUN F)[/B]
Actual: 12.9%
Previous: 13.0%
[B]M4 Sterling Lending (GBP) (JUN)[/B]
Actual: 6.7B
Previous: 5.1B
[B]Net Consumer Credit (JUN)[/B]
Actual: 0.9B
Previous: 0.9B (Revised)
[B]Net Lending Secured on Dwellings (JUN)[/B]
Actual: 9.6B
Previous: 8.8B (Revised)
[B]Mortgage Approvals (JUN)[/B]
Actual: 114K
Previous: 114K
See Daily FX Weekly Calendar for further insight