The UK economy expanded moderately as estimated in the second quarter as household spending grew at the weakest pace in nearly three years amid rising prices. Gross domestic product increased 0.3 percent sequentially in the second quarter, unrevised from the preliminary estimate, the latest data from the Office for National Statistics showed Thursday. more...
Trading the News: U.K. Consumer Price Index (CPI) The U.K.’s Consumer Price Index (CPI) may spark a limited reaction as the headline is projected to hold steady at an annualized 2.3%, but a downtick in the core rate of inflation may weigh on GBP/USD as it encourages the Bank of England (BoE) to preserve a wait-and-see approach for monetary policy. What’s Expected: Why Is This Event Important: ...
British Prime Minister Theresa May will invoke the Article 50 of the Lisbon Treaty next Wednesday, March 29, thus formally beginning the process of exiting the European Union. more...
Trading the News: U.K. Gross Domestic Product (GDP) GBP/USD may stage a larger rebound over the next 24-hours of trade as the advance Gross Domestic Product (GDP) report is expected to show the U.K. economy expanding another annualized 2.1% in the third-quarter of 2016, and signs of better-than-expected growth may encourage the Bank of England (BoE) to retain the current policy throughout the remainder of the year as the central bank sees growing risk of overshooting the 2% target ...
Trading the News: U.K. Consumer Price Index (CPI) A material pickup in both the headline and core U.K. Consumer Price Index (CPI) may sap the bearish sentiment surrounding the British Pound and spark a larger recovery in GBP/USD especially as a growing number of Bank of England (BoE) officials see a greater threat of overshooting the 2% target for inflation. What’s Expected: Why Is This Event Important: ...
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