U.K. GDP data - Ester Holdings
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U.K. GDP data

  • GDP (m/m), fact 0.1%, forecast 0.1%.
  • Industrial Production (m/m) (October), fact -0.6%, forecast -0.4%.
  • The volume of production in the manufacturing industry (m/m) (October),  fact -0.9%,  forecast 0.0%.
  • Change in monthly GDP 3m/3m, fact 0.4%, forecast 0.4%.
  • Trade balance (Oct), fact -11.87B, forecast -10.50B.
  • Trade balance excluding EU countries (October), fact -4.25B, forecast -3.15B.

The data on the UK GDP were very restrained, but the production and trade balance of the UK slowed down significantly in October. It is worth noting that this is an expected decrease in terms of the exit of the UK from the EU, especially in terms of maintaining the downward dynamics and the exacerbation of tension around Brexit.

Fig. 1. Production in the UK Manufacturing Industry

 

The British pound at the same time very restrained responded to the weak statistics for the UK, indicating the expectation of weak statistics. The focus of the market is still chained to the political situation in the UK and the risks associated with Brexit. The pair GBP/USD is limited by the downtrend with a trading range from 1.2750-80 to 1.2690-70.

Fig. 2. GBP/USD chart. The current price is 1.2720.

Read also: “Trump’s tax reform. Prospects.”

Hanzenko Anton

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