OctaFX | OctaFX Forex Broker
Open trading account
Back

UK Q3 GDP growth is likely to slow modestly - ING

FXStreet (Łódź) - James Knightley from ING suggests that the UK Q3 GDP data, due out soon, should reveal that the country's economy expanded for the seventh running quarter.

Key quotes

"At this stage we just get the industry breakdown with the left-hand chart really highlighting the dramatic outperformance of the service sector relative to manufacturing and construction."

"Business surveys, such as the purchasing managers’ indices are suggesting we should look for manufacturing underperformance yet again, but that service sector and construction activity should be robust."

"Indeed, the composite purchasing managers’ indices continue to point to growth around the 1% QoQ rate."

"We are a little more cautious for today’s reading – predicting 0.8% QoQ growth. The Eurozone backdrop has been deteriorating and lagged effects of sterling strength will act as a brake on activity."

"Furthermore, the housing market has cooled to some extent, following the introduction of the Mortgage Market Review in April."

"Nonetheless, the strength in employment, sentiment and the likelihood of growing wage pressures suggest that the economy can maintain momentum through 2015."

GBP/USD struggling to rise above 1.6042 - FXStreet

FXStreet Editor and Analyst Omkar Godbole points out that GBP/USD, finished on Thursday at 1.6029 is attempting to climb above 1.6042.
Read more Previous

AUD/USD recovers to 0.8770

The Aussie dollar keeps the upper band of the range on Friday, with AUD/USD hovering over the 0.8770 neighbourhood...
Read more Next
Start livechat