Good Afternoon. Another strange morning in the FX world, but the basic themes pretty much remain the same. Speaking as someone who paid Cable right at the top at 1.6246 at 7.00.01 this morning, (thinking that house prices rising at their fastest pace in 2 and half years might be a good thing) I’m as confused as you are.
Focus now shifts to our second look at the US Q2 GDP data, which is expected to be revised downwards to -1.5% from the original estimate of -1.0%. A lot of people are talking about how the sales component will be key. At the same we get our weekly look at jobless claims which are expected at 565k after last week’s surprise rise to 576k.
