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The Pound made gains against the Euro and the Dollar yesterday. Today’s UK final Q2 GDP figures are expected to be little changed from the output, income and expenditure outturn released at the end of August. That pointed to growth of 1.2% q/q, an upward revision from the initial estimate. The risks are for a small downward revision to the final figure, since the trade figures have been generally worse than expected, but the release is now little more than of historical interest, as the debate around the UK and global

The Dollar declined against the Pound while making small gains against the Euro yesterday/ The dollar is expected to remain on the back foot as markets focus on the risks facing the US economy. Data due for release today should provide some insights, with the Case Shiller house price index and the Conference Board’s measure of consumer confidence scheduled.

The Euro declined against the Pound and the Dollar yesterday as some negativity emerged as Moody’s downgraded Anglo-Irish Bank on concerns the Irish Government has not guaranteed the struggling banks bonds.

Data released 28.09.10

UK      09.30 Q2- GDP (Final Estimate)

UK      11.00 CBI Distributive Trades Survey (September)

UK      11.00 Land Registry House Price Index (August)

US      14.00 Case Shiller House Price Index (July)

US      15.00 Consumer Confidence (September)