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UK GDP meets expectations, pound still pound by the Turkish crisis

The UK reported a quarterly growth rate of 0.4% and a yearly one of 1.3%, exactly as expected. Other data points such as the trade balance and manufacturing output came out slightly above expectations. GBP/USD did not react too much to the data. This is the first time the UK also publishes monthly GDP alongside the quarterly one. The pound collapsed earlier in the day on the Turkish crisis, which triggered a risk-off sentiment in all markets. The pound has been hit earlier in the week by concerns about a no-deal Brexit.

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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.