Cable up at 1.6160 from North American close Tuesday around 1.6125. Sterling survived (probably too strong a word, but what the heck) poor Nationwide consumer confidence data for January (down to 47 from previous 54 and lower than median forecast of 50)
Could be a volatile day for sterling given jobs report and release of latest BOE inflation report/King press conference.
09:30 GMT: UK jobless claims for January expected -3k; claimant count rate expected unchanged 4.5%; Ilo unemployment rate 3months to December expected unchanged at 7.9%
10:30 GMT: Inflation report/King press conference. (NOTE TIME AMENDED, the caffiene from the morning cuppa hasn’t kicked in yet)
Sterling bulls have had a nice little run of late given increased speculation over early BOE rate hike, and they’ll be hoping report and Merve the Swerve will throw more fuel on the fire.
