GBP/USD keeps gains around 1.2930 after UK Q4 GDP meets estimates with 0.0%
|- UK GDP arrived at +0.3%% MoM in Dec vs. +0.2% expected.
- UK GDP eased to 0.0% QoQ in Q4 vs. 0.0% expected.
- GBP/USD holds on to the latest recovery attempt post-data.
The preliminary reading of the fourth quarter 2019 UK GDP came in at 0.0% QoQ vs. 0.0% expected and +0.4% last while on an annualized basis the figure stood at +1.1% vs. +0.8 expected and +1.1% seen previously.
The UK GDP monthly release showed that the UK economy expanded in December, arriving at +0.3% versus +0.2% expected and -0.3% previous.
Meanwhile, Index of services (November) arrived at +0.1% 3M/3M vs. 0.0% expected and 0.0% prior.
The Cable keeps its range around 1.2930 region, largely unfazed by the UK growth numbers.
About UK GDP
The Gross Domestic Product released by the National Statistics is a measure of the total value of all goods and services produced by the UK. The GDP is considered as a broad measure of the UK economic activity. Generally speaking, a rising trend has a positive effect on the GBP, while a falling trend is seen as negative (or bearish).
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