GBP/USD roiled just below the 1.2700 handle on Tuesday.
A notable lack of UK data leaves Cable in the sights of NFP market action.
US labor and wage figures to dominate this week in the runup to Friday’s NFP.
GBP/USD churned chart paper just south of the 1.2700 handle on Tuesday, roiling bids as Pound Sterling traders grapple with a significant lull in meaningful UK-centric economic data and broader markets gear up for a fresh pass of US Nonfarm Payrolls (NFP) data due at the end of the week.
Bank of England (BoE) Governor Andrew Bailey is due to make an appearance early Wednesday… sort of. The head of the UK’s central bank will delivering remarks via a pre-recorded interview during a conference hosted by the Financial Times. Nothing of note is expected from the BoE head’s appearance, but GBP traders will be keeping one ear open for any meaningful soundbites the BoE Governor may reveal.
US ADP Non-Farm Employment Change numbers are due on Wednesday, and are expected to swing lower to 150K from the previous 233K. Wednesday will also bring the Services component for ISM US Purchasing Managers Index (PMI) dropping onto investors during the day’s American trading session. US Services PMI activity survey results are expected to tick down to 55.5 in November, down from the previous month’s 56.0.
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