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- European session review: GBP appreciates as investors await a raft of upbeat UK's economic data this week
European session review: GBP appreciates as investors await a raft of upbeat UK's economic data this week
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 08:00 | Eurozone | Current account, unadjusted, bln | February | 5.6 | 13.3 | |
| 09:00 | Eurozone | Construction Output, y/y | February | -2.6% | -5.8% | |
| 10:00 | Germany | Bundesbank Monthly Report | ||||
| 12:15 | Canada | Housing Starts | March | 275.6 | 250 | 335.2 |
GBP strengthened against most of its major rivals in the European session on Monday as investors prepared for the releases of some key economic data in the UK later this week, which are expected to show that the UK's economy is recovering from its worst recession in more than 300 years, supported by a fast rollout of COVID-19 vaccines and gradual easing of lockdowns.
This week, market participants will receive the UK's manufacturing and services PMI survey data together with reports on the labour market, inflation, retail sales and consumer confidence.
It is expected that Britain's economic recovery will be faster than that in the European Union (EU), which is struggling with a third wave of the COVID-19.
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