We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Bitcoin
Mixed
More View more
Real Time News
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Silver: 0.63% Oil - US Crude: -0.02% Gold: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/oNEkMGVhyX
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.17% 🇨🇦CAD: 0.11% 🇪🇺EUR: 0.07% 🇳🇿NZD: -0.01% 🇨🇭CHF: -0.03% 🇯🇵JPY: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/6TDJo3StbI
  • LIVE NOW: Join DailyFX Senior Strategist @IlyaSpivak LIVE as he discusses the outlook for the financial markets in the week ahead! https://www.dailyfx.com/webinars/889679267
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.27%, while traders in Germany 30 are at opposite extremes with 84.48%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Hp25WV8QCx
  • LIVE IN 30 MIN: Join DailyFX Senior Strategist @IlyaSpivak LIVE as he discusses the outlook for the financial markets in the week ahead! https://www.dailyfx.com/webinars/889679267
  • #NOK, #AUD and #SEK are expected to be the most active G10 currencies vs USD with 1-week implied volatility at 7.35, 7.76 and 6.72, respectively
  • Tune in to @IlyaSpivak 's #webinar at 10:00 PM ET/3:00 AM GMT for insight on the cross market weekly outlook. Register here: https://t.co/E213bTtq5C https://t.co/Mh5NxU5BsU
  • RT @KyleR_IG: * PBOC OFFERS 1-YEAR MLF AT 3.15%, LOWERED FROM 3.25% PREVIOUSLY #ausbiz $cny
  • 🇨🇳 CNY New Home Prices (MoM) (JAN), Actual: 0.27% Expected: N/A Previous: 0.35% https://www.dailyfx.com/economic-calendar#2020-02-17
  • 🇨🇳 CNY New Home Prices (MoM) (JAN), Actual: 0.27% Expected: N/A Previous: 0.4% https://www.dailyfx.com/economic-calendar#2020-02-17
U.K. Economic Activity Expands During the Three Months Through March

U.K. Economic Activity Expands During the Three Months Through March

2010-07-12 12:26:00
Michael Wright, Currency Analyst
Share:

fxheadlines07.12

Fundamental Headlines

• North Korea, U.N. to Meet – Wall Street Journal
• Japan Ruling Party Pummeled to Vote – Wall Street Journal
• Japanese Premier Suffers Election Setback  - Financial Times
• Bank Swaps Show Reduced Stress-Test Fears as Bonds Rally: Credit Markets - Bloomberg
Euro Strength Damps Break-Up Talk as German Jobs Make Trichet See Recovery- Bloomberg



GBP/USD:  Economic activity in the U.K. advanced 0.3 percent in the first quarter from the three months through December, the office for National Statistics in London said today. Today’s figures which are the final reading confirms economic expansion from the opening months in the year. At the same time, the annualized rate fell 0.2 percent which was in line with the previous reading and economists’ forecasts. Indeed, GDP figures remain elevated by continued support by the British government, however, the economy faces major headwinds going forward as recent austerity measures by the government may lead the world’s sixth largest economy into a mild downturn. Meanwhile, consumers are likely to scale back spending amid uncertainty in the labor market paired with tight credit conditions. With regards to interest rates, the Bank of England recently refrained from raising its key overnight lending rate and its quantitative easing plan, while the central bank has left the option open for further asset purchases as the economic recovery fails to gain momentum. Market participants will now turn their focus to the meeting of the minutes due out on July 21st. The minutes may continue to show differences among members after Andrew Sentence voted for a twenty five basis point rate hike last month. To discuss this and other topics, please visit the GBP/USD forum.



Written by Michael Wright, Currency Analyst
To Receive Future Articles by Email, please contact me at instructor@dailyfx.com
Michael Wright is the author of FX Headlines, Fundamentals vs. Technical’s, Weekly Spotlight, and
Forex Trading Weekly Forecast

 

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.