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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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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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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All doom and gloom for Sterling

British Industrial growth slightly rose in March, therefore confirming a gloomy first quarter for the economy that pretty much confirms no Bank of England interest rate hike later today. The data, released along with figures for the construction industry and overseas trade, did nothing to alter the picture of an economy that has struggled for […]

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Rate hike expected now in August

The Bank of England will wait until August before raising interest rates, according to polls taken over the last few days. We expected a rate rise this Thursday, but a massive turnaround after comments from BoE Governor Mark Carney, together with weak data suggesting Britain’s economy is barely growing. At the start of April, they […]

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Sterling continues to be volatile ahead of Thursday

GBP dropped off today as many investors have continued to off-load the pound ahead of the Bank of England meeting this Thursday when the central bank is expected to keep interest rates on hold, and as worries about Brexit negotiations resurface. Tensions within Britain’s governing Conservative party over how to agree terms of exit from […]

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