UK Public Sector Borrowing Jumps, US Q3 GDP Ahead
The UK and US have a fair number of beneficial economic releases lined up for the holiday-trimmed week, although whether they will be enough to trigger volatility in trading in the Pound – US Dollar currency pair is left to be seen. Earlier today, UK’s GfK consumer confidence index surprisingly rose for December, defying investor expectations of a steady reading. Additionally, the just out figures indicated a higher than expected rise in UK public sector borrowing excluding banks for November, delivering bad news for the UK Chancellor. In the session ahead, a revised set of third quarter GDP figures will take the spotlight in the US.
In Europe, the GfK group’s forward looking consumer sentiment index in Germany pointed upwards again for January after an extended period of decline.