GBP/USD stays unfazed above 1.37 after UK GDP beats estimates with 0.9% in November
|- UK GDP arrived at 0.9% MoM in Nov vs. 0.4% expected.
- GBP/USD is little changed around 1.3730 on upbeat UK GDP.
The UK GDP monthly release showed that the economy expanded more than expected in November, arriving at 0.9% vs. 0.4% expectations and 0.1% previous.
Meanwhile, the Index of services (November) arrived at 1.3% 3M/3M vs. 0.5% estimate and 1.2% prior.
The Cable keeps its range around 1.3730 despite the above forecasts UK growth numbers. The spot is adding 0.19% on the day.
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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