U.K. data

• GDP (m/m), fact 0.5%, previous value  -0.4%.
• Industrial Production (m/m) (January), fact 0.6%, forecast 0.2%.
• Manufacturing production (m/m) (January), fact 0.8%, forecast  0.2%.
• Trade balance (Jan), fact -13,0B, forecast -12,20B.

The UK GDP data showed an unexpected growth, as well as the growth of industrial production, and provided restrained support to the British pound. The negative note of the report was the data on the UK trade balance, which continues to increase the deficit and remains near historic lows.

Fig. 1. U.K. GDP chart

 

General dynamics of the British pound on positive data on GDP and the growth of the budget deficit remains restrained. The reason for which was the expectation of a vote on the Brexit deal in the Parliament of Great Britain. The British pound remains in a significant overbought and full power of sentiment and speculation due to it.

Fig. 2. GBP/USD chart. Current price – 1.3180

Read also: “Eurozone and the state of its economy based on key economic indicators”

Hanzenko Anton

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