For the current trading week (Nov 29th- Dec 3rd)the news background is expected to be almost neutral.
Nov 29th 2010
9.30GMT GBP - Final Mortgage Approvals. It is a fairly strong anticipatory indicator, which is expected to show a 3K increase this week. Consequently, the Department of Options, Masterforex-V Academy, expects a possible increase in the volatility during the news release. In its turn, it will affect the value of both the option and the asset.
Annual Pre-Budget Release is also expected during the day. As there is no specific time of the release, the increased volatility may be seen any time within the trading session.
Nov 30th 2010
00:01GMT GBR - GfK Consumer Confidence. Analysts believe the value is not changing this week. The index has a weak impact on the market because of the respondents’ subjectivity towards the current economic situation. No volatility increase is expected.
Dec 1st 2010
07:00 GBR - Nationwide House Price Index (HPI). The indicator shows changes in the average housing price in GB. Analysts expect the index to decline by 0.3%
The indicator is important in terms of general housing market condition. However, it doesn’t have a great impact on market volatility as it has an impact on currency and stock markets only in mid and long-term perspective.
09:30 GBR - Manufacturing PMI. We suppose that this week the indicator will show some weakness, bringing no volatility boom. But if the data come out much better than the previous value and than it is expected, the volatility may grow significantly.
So, the current week have no considerable volatility potential. However we think that Mortgage Approvals, Nationwide HPI and Manufacturing PMI are worth paying attention to. Taking into account their mid-term impact on the overall economic situation they may provoke either growth or decline of some other indicators.
The 47th week ended up for GB with the following data:
· BBA mortgage approvals declined down to 30,80K
· GDP remained the same at 0.8%
· Manufacturing Investments made a considerable fall down to -0.2%
· Retail Sales CBI increased by 7 pts
Provided by the Department of Options, Masterforex-V Academy.
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