Credit Agricole CIB FX Strategy Research notes that the focus for UK trader this week will be on labor data, retail sales and CPI.
In particular, CACIB thinks that the retail sales report on Thursday will be watched for any indication of further weakening domestic demand conditions.
Strategy-wise, CACIB believes that it is likely that the market can expect GBP trading to continue within the last few months’ trading range.
“Accordingly we favour the downside and remain long EUR/GBP*,” CACIB advises
Source: Credit Agricole CIB Research
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