Cable up at 1.6505 from a North American close Tuesday down around 1.6475. It’s a big day for sterling. The market eagerly awaits the 08:30 GMT release of Q1 GDP data.
Median forecasts call for +0.5% q/q, +1.8% y/y. There is some focus on comments made by Chancellor Osborne yesterday, that the economy is on the right track but that the underlying position remains difficult. Some read this as disappointing news on the way today. We’ll see soon enough.
Other data out:
UK Nationwide house prices for April
08:30 GMT: Loans for house purchases for March expected 30.6k, up from previous 29.9K
08:30 GMT: Index of services for February expected +0.2%, 3m/3m -0.3%
