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.

Dhwani Mehta FXStreet

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).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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