Preliminary GDP data on Great Britain

Preliminary data on the UK GDP for the 4th quarter did not meet the expectations of the market, indicating possible fears of slowing GDP growth. So, the recent expectations for GDP growth in the UK fluctuate in 0.1% of the actual data for the 3rd quarter, this may ultimately indicate the preservation of GDP growth rates.

With very limited data on the UK, the pound was under pressure against its main competitors, despite the fact that the business climate in Germany has slowed. The reason for such a negative movement of the pound are concerns about the economy of the UK, which intensified amid weak data on employment.

At the same time, the pair EUR/GBP remains in the weekly downtrend and is limited to the level of 0.8800, which can also limit the decline of the pound against most competitors.

Fig. EUR/GBP. The current price is 0.8850.

Hanzenko Anton