UK: Performance of the economy in Q3 could be pivotal – RBC CM
|Elsa Lignos, Senior Currency Strategist at RBC Capital Markets, suggests that the UK markets focus will be on the third estimate of Q2 GDP which is out on Friday.
Key Quotes
“Alongside that we will get the first look at how activity in the service sector is shaping up at the start of Q3 in the form of the July index of services. This could be quite important—as service sector output is almost 80% of total output, this will be a key input to Q3 GDP growth estimates. The performance of the economy in Q3 could very well be pivotal when it comes to the MPC decision in November. Money and credit data are out on Thursday. The BoE’s favourite measure of money supply jumped 14.7% 3m saar in July so it is worth watching if this is a blip or sustained.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.