Home UK updated GDP: +0.3%

A miss in UK GDP: it remained unchanged at +0.3% q/q and was not  revised higher. Year over year growth also remained unchanged at 2.4%.

GBP/USD is ticking lower and slipping below 1.5350.

Other UK figures improve the  picture: the preliminary business investment for Q1 rose by 1.7%, better than 1.2% expected. BBA  Mortgage Approvals stand at 42.1K, higher than last month’s 38.8K and better than 39.2K predicted.

The United Kingdom was expected to  upgrade the assessment of its Q1 growth from 0.3% originally reported to 0.4% now.

GBP/USD traded at around 1.5360 towards the publication.

The British pound was one of the  stronger currencies in the wake of the recent USD storm. Sterling withstood the greenback’s strength and managed to gain ground against other currencies such as the  euro, Aussie and the yen.

One of the things that helped it was the strong retail sales report released last week, but it certainly needs more positive data to hold on, and this release doesn’t help.

More:  GBPUSD: Sees Weakness, Eyes Key Support

— more coming

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.