No surprises in the UK GDP release: quarterly growth remains 0.5%, and yearly growth is 2.3%. Among the internal components, we find a rise of 0.9% in business investment while services stand at 0.8%×¥ Exports are up 0.7% and imports down 1.5%. All in all, the changes in the components offset each other.
GBP/USD remains unchanged around 1.2450, after edging up just a bit ahead of the publication.
The second release of the UK GDP for Q3 2016 was expected to confirm the growth rate of 0.5% q/q and 2.3% y/y. The first release came out stronger than projected. Q3
GBP/USD was trading at around 1.2440 ahead of the publication. Trading is a bit slow as US markets are mostly on holiday.
Resistance awaits at 1.2510 and support is at 1.2380.
More: GBP/USD – between Hard Brexit and a Dark Donald
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