At 08:30 GMT, UK Gross Domestic Product (QoQ) (Q1) is expected to come in at 0.3% from 0.4% previously. Gross Domestic Product (YoY) (Q1) is expected to be unchanged at 1.4%. UK GDP has been moving lower since the highs of 1.1% and 1.0% in 2010 and 2012 respectively. On the positive side, the last two readings beat expectations, with this quarter’s number expected to show a 0.1% decrease and the yearly number holding steady. GBP crosses can see a spike in volatility should the data differ from the expected consensus.
At 12:30 GMT, US Gross Domestic Product Annualized (Q1) is expected to be 2.0% from 2.9% previously. Gross Domestic Product Price Index (Q1) is expected to be 2.2% from 2.3% previously. These GDP figures are expected to fall this time, as growth moderates. Core Personal Consumption Expenditures (QoQ) (Q1) is expected to be 2.4% v a prior 1.9% reading from Q4. Personal Consumption Expenditure Prices (QoQ) (Q1) are expected to be 2.6% v a previous 2.7%. This data is expected to show a slight drop in headline inflation but the core data is expected to be higher. USD crosses may be heavily traded as a result of this data.