Dukascopy Bank Team
Dukascopy Bank SA
GBP/USD: UK GDP and Manufacturing Production
The British Pound depreciated against the US Dollar, following the UK GDP data release on Monday at 09:30 GMT. The GBP/USD exchange currency rate lost 22 pips or 0.17% during a minute, right after the release. The British Pound continued trading at the 1.2905 area against the US Dollar.
The Office for National Statistics released UK GDP data that came out lower-than-expected of negative 0.4% compare to forecasted 0.0%. Note, that the Manufacturing Production was released at the same time with the GDP.
"If there's a silver lining from the mounting signs that the uncertainty caused by Brexit is holding back GDP growth, it's that the economy could enjoy a decent rebound if a Brexit deal is agreed," Capital Economics' Chief UK Economist, Paul Dales, wrote in a research note published on Monday.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.