Investing.com – The week beginning March 1 follows one during which the pound plummeted to a 9-month low against the U.S. dollar, as the Bank of England signaled further measures may be necessary to boost Britain's ailing economy.
At the close of trade on Friday, GBP/USD hit 1.5241, shedding 0.16%. Cable is likely to find support at 1.5152, Friday's low, and resistance at 1.5575, the high of Feb. 23.
Next week, the United States is due to publish key data on unemployment, the housing market and its manufacturing sector.
Britain, meanwhile, is scheduled to release its services and manufacturing PMIs, and the Bank of England is set to announce decisions on interest rates and its asset purchase facility. Halifax Bank of Scotland is also due to release its House Price Index during the week.
Ahead of the coming week, Investing.com has compiled a list of these and other events likely to affect GBP/USD.
Monday, March 1
The financial services group Markit will publish Britain's manufacturing Purchasing Managers' Index, a leading indicator of economic health.
Later Monday, the Institute for Supply Management will publish its manufacturing PMI for the U.S.
Tuesday, March 2
Markit will publish Britain's construction PMI, which is expected to climb slightly from 48.6 to 48.9.
Also Tuesday, Autodata Corp. will publish monthly data on the number of cars and trucks sold in the U.S. in its total vehicle sales report.
Wednesday, March 3
Markit will publish its services PMI for Britain, an important indicator of the state of the country's economy.
Two key reports will then be released in the U.S.: The ISM non-manufacturing PMI and ADP's non-farm employment change. The latter data on the U.S. job market provides a key indicator of consumer spending, which accounts for the majority of overall economic activity.
Thursday, March 4
The Bank of England will state its decision on its quantitative easing program and announce its interest rates decision.
Also Thursday, the U.S. will publish key reports on unemployment claims and pending home sales.
Friday, March 5
Britain will release its Producer Price Index Input, a leading indicator of inflation that has added importance since it comes ahead of the country's CPI.
The U.S. will close the week with important reports on non-farm employment change and the unemployment rate, both of which point to the state of the country's overall economic health.