23 May 2014
The UK’s week ahead to weigh on the pound? - RBS
FXStreet (Guatemala) - Strategists at RBS explained that the coming week brings a light UK data calendar but the main focus will be on how the UK household sector is faring – consumer confidence, retail sales and the demand for mortgages.
Key Quotes:
“We believe there is further upside potential for the CBI retail sales and GfK consumer confidence surveys, underpinned by robust employment trends and easier credit conditions”.
“We forecast the number of new mortgage approvals (BBA data) to edge down for a third successive month as more rigorous checks (eg, on borrowers' income and affordability as interest rates rise) slow the pace of new approvals. Overall, indicative of the strength of consumer demand being broadly maintained in Q2”.
Key Quotes:
“We believe there is further upside potential for the CBI retail sales and GfK consumer confidence surveys, underpinned by robust employment trends and easier credit conditions”.
“We forecast the number of new mortgage approvals (BBA data) to edge down for a third successive month as more rigorous checks (eg, on borrowers' income and affordability as interest rates rise) slow the pace of new approvals. Overall, indicative of the strength of consumer demand being broadly maintained in Q2”.