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In course of the previous trading week ended on November 21, the GBP/USD currency pair was much more stable than during several weeks before. The Pound started the trading around 1.57 against the Dollar and managed to keep the neutral sentiment during the whole week, showing only minor losses. The British CPI reached 1.3% last month, climbing closer to the BoE threshold of 2%, while retail sales posted a considerable gain of 0.8%, thus beating analysts' expectations. Meanwhile, there were no changes in the distribution of votes from MPC members on interest rates, which sent the Cable slightly to the north. Nevertheless, the Pound slid lower against the US dollar on Friday, following the announcement of higher than expected UK public sector net borrowing. This important indicator, which reflects the overall health public finances in Britain, rose to 7 billion pounds in October, while analysts expected the total borrowing to stay around 6.6 billion pounds last month. Data from the North America showed a minor fall in industrial production of 0.1%, comparing to a 0.8% gain in September. Initial jobless claims in the world's biggest economy, in turn, remained within the boundaries of monthly average levels at 291,000. The pair closed last trading week just below the monthly S2 at 1.5627 on Friday's evening.
This week the pair's sentiment improved considerably, being that now as many as 43% of all votes are bullish on the cross. The average expectation for November 28 stays around 1.57. This week's key events from Britain include the revised data economic growth in the Q3 and a report on property prices from Nationwide on Friday. However, the US statistical authorities are due to announce important numbers ahead of Thursday's Thanksgiving holiday, including unemployment claims, durable goods orders, as well as consumer confidence and revised data on Q3 GDP.
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