UK GDP rises 0.2% MoM in August, as expected
- UK GDP expands 0.2% MoM in August, matches estimates
- GBP/USD battles 1.3050 after the UK data.
The UK economy expanded by 0.2% over the month in August, having stagnated for the second consecutive month in July, the latest data published by the Office for National Statistics (ONS) showed on Friday. The reading matched the market consensus of 0.2% growth in the reported period.
Meanwhile, the Index of services (August) arrived at 0.1% 3M/3M vs. July’s 0.6% print and 0.3% expected.
Other data from the UK showed that the monthly Industrial Production and Manufacturing Production rose 0.5% and 1.1%, respectively, in August. Both readings bettered market expectations.
Separately, the UK Goods Trade Balance came in at GBP-15.06 billion MoM in August vs. GBP-19.30 billion expected and GBP-18.871 billion previous.
Market reaction to the UK data
The UK economic data have little to no impact on the Pound Sterling. At the press time, GBP/USD is trading 0.07% lower on the day, keeping its range near 1.3050.
British Pound PRICE Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the weakest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.02% | 0.10% | 0.15% | 0.13% | 0.04% | -0.01% | 0.14% | |
| EUR | 0.02% | 0.06% | 0.11% | 0.09% | 0.04% | -0.04% | 0.11% | |
| GBP | -0.10% | -0.06% | 0.04% | 0.03% | -0.02% | -0.11% | 0.04% | |
| JPY | -0.15% | -0.11% | -0.04% | -0.02% | -0.10% | -0.17% | -0.10% | |
| CAD | -0.13% | -0.09% | -0.03% | 0.02% | -0.07% | -0.14% | 0.02% | |
| AUD | -0.04% | -0.04% | 0.02% | 0.10% | 0.07% | -0.10% | 0.04% | |
| NZD | 0.01% | 0.04% | 0.11% | 0.17% | 0.14% | 0.10% | 0.16% | |
| CHF | -0.14% | -0.11% | -0.04% | 0.10% | -0.02% | -0.04% | -0.16% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
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.
