OctaFX | OctaFX Forex Broker
Open trading account
Back

UK: Soft GDP data – TDS

According to analysts at TD Securities, UK’s November GDP was quite a bit softer than expected at -0.3% MoM (market 0.0%).

Key Quotes

“There were a few analysts (including us) calling for -0.1%, but no one any weaker than that. The decline was led by manufacturing at -1.7% m/m (mkt -0.2%, TD -0.9%), but the important index of services was also much weaker than expected at -0.3% (mkt 0.0%), with fairly widespread declines among sub-sectors. That being said, we don't think that the November GDP data is likely to be a make-or-break factor for the BoE decision in two weeks.”

“The story for the MPC instead seems to be the split between those who believe that the data will bounce in Jan once the political uncertainty recedes, and those who are sceptical. However, with Vlieghe's comments over the weekend, it seems that the MPC's optimistic camp may be starting to lose members to the pessimistic side, and the January decision is certainly a closer call now than what we had previously thought.”

GBP/USD Technical Analysis: Bulls trying to defend descending channel support, around mid-1.2900s

The GBP/USD pair extended its recent rejection slide from the vicinity of the 1.3200 handle and witnessed some follow-through selling for the fifth co
Read more Previous

USD/JPY loses momentum ahead of 110, consolidates gains near 109.90

The upbeat market mood at the start of the week made it difficult for the safe-haven JPY to find demand and helped the USD/JPY pair, which added nearl
Read more Next
Start livechat