UK GDP rises 0.1%


UK GDP rises 0.1%

Q1 Gross Domestic Product in the UK increased 0.1% in the second estimate, the Office for National Statistics announced this morning. This is unchanged from 0.1% quarter-to-quarter rise reported in the preliminary estimate. Comparing this to a year ago, the UK GDP increased 1.2% y/y, unchanged from the estimate. Within the structure on Q1 GDP, household […]

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UK Inflation data hurts the pound

Sterling slid yesterday to a new five-month low after weaker-than-expected UK inflation dented the prospect of the Bank of England raising interest rates this year. The pound had been one of the best-performing currencies in 2018 but it has given up all its gains for the year following a broad rally in the dollar and […]

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Brexit negotiations resume today

Today’s UK data releases are the May Confederation of British Industry (CBI) industrial survey which will provide an update on manufacturing. That sector grew much more quickly than the economy as a whole last year, but activity seems to have slowed in early 2018. The deceleration may at least in part have been due to […]

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Sterling worst performing

The Pound and Euro are in a contest to see who the worst performer is today, and right now the pound is edging out the euro by just a tad bit. It’s been all about politics that is weighing on the two currencies today, not helped by technical selling against the greenback too. The euro […]

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Sterling stays strong

Sterling enjoyed a brief rally yesterday after reports that Britain would tell Brussels it was prepared to stay in the European Union’s customs union beyond a Brexit transitional arrangement. Cabinet ministers are deadlocked over a future deal with the bloc. The Telegraph newspaper said Britain would tell Brussels it was prepared to stay in the […]

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Pound gains after positive Brexit news

Sterling rallied more than half a percent to hit a two-day high after a media report that Britain would tell Brussels it was prepared to stay in the European Union’s customs union after a transitional arrangement. Britain will tell Brussels it is prepared to stay in the customs union beyond 2021 as ministers remained deadlocked […]

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Daily Update

Fed speakers continue to leave open the door to raising rates three more times this year if the data starts to accelerate. The US economy continues to perform well, although questions remain over Europe and the UK, which has been the main driver of the USD recently. It will, therefore, be interesting to hear whether […]

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Employment Data Positive

British employers hired many more workers than expected in early 2018 but wage growth has yet to accelerate sharply, according to figures that leave the Bank of England still waiting for signs the economy is ready for a rise in interest rates. Employment rose by 197K during the first three months of this year, the […]

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Dollar weakens after recent highs

Sterling rose on this morning against the dollar which weakened against other majors. Investors focused on economic data that could help the pound recover after the Bank of England last week held rates and cut its growth projections. The rally in the dollar lost momentum after tame U.S. inflation data tempered expectations for a faster […]

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Market Update

Today seems likely to be a quiet end to the week with no significant new economic data in either the Eurozone or the UK. Today’s second reading for April Spanish CPI inflation is expected to be unchanged from the initial reading. That would be consistent with no revision to the aggregate Eurozone measure due next […]

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