Market themes of the Day: UK Q2 GDP set to rise double the pace of the first quarter

What you need to know before markets open
In Europe

  • The Financial Times reported that the ECB is concerned about exposure of Eurozone banks including BBVA, UniCredit, BNP in Turkey.

In the UK

  • Sterling fell to a 1-year low of 1.2841 against the US Dollar as No-Deal fear factor dominated the market before the report of the EU preparing Brexit concessions for the UK Prime Minister May.
  • The UK manufacturing output is expected to increase by 0.3%m/m while rising 1.0% y/y in June.
  • The UK Q2 GDP is expected to rise 0.4% Q/Q while increasing 1.3% y/y. For details read my Preview here and learn how to trade GDP with GBP/USD in Yohay's report here.

In the US

  • The US core producers prices decelerated to 3.3% y/y in July from 3.4% in the previous month while core PPI slowed down to 2.6% y/y while 2.7% y/y.
  • Initial jobless claims fell to 213K in the week ending July 30. 
  • Chicago Fed President Charles Evans sees one or two more rate hikes in 2018 as reasonable.
  • While headline US inflation is expected to accelerate to 3.0% y/y in July, core inflation is set to remain unchanged at 2.3% y/y. For details read Yohay's Preview here and learn how to trade it with EUR/USD here

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 securities. 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 Forex 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.