GBP

It might be a light week for the pound data wise, but that hasn’t stopped an increased demand for the currency. This comes amidst expectations of a bank holiday consumer binge. There’s been a recent slowdown in retail sales and business activity, but this could actually give way to stronger expansion.

A recent survey for UK business activity showed 60% of businesses in the hospitality sector are projecting increased revenue over the August holiday.

USD

It’s the start of the highly anticipated Jackson Hole symposium today, with most interest centred on the Federal Reserve’s stance on quantitative easing. There’s a demand to know when the programme will end, pressured by recent strong payroll numbers and hawkish FOMC minutes.

However, it’s possible many will be disappointed as the current picture is muddied by the surge in Covid cases in the US. This may mean a more tentative approach when discussing.

Key announcements

13:30 -USD- Gross Domestic Product Annualized (Q2); expected to rise to 6.7% from previous 6.5%