country flagالعربية
0

British pound is showing after the British data

2019-01-11 10:07 am | Resource: News | No Views : 47


 
Pound's performance varied after the release of UK industrial production data and November's GDP at 11:30 am on Friday, as the pound did not change slightly against the major currencies.

UK GDP growth accelerated to 0.3% in the quarter through November

UK GDP rose by 0.3% in November 2018 compared to the previous three months, according to monthly estimates released by the State Bureau of National Statistics on Friday.

"Growth in the UK economy continued to slow in the three months to November 2018, after stronger performance during mid-year, accounting and housing construction grew again but a number of other regions were slow. "The pharmaceutical industry is often weak," said National Accounts Chief Rob Kent Smith, commenting on today's figures.

Quarterly growth in the services sector was 0.3%. The construction sector was also a positive contributor, with a three-month steady growth of 2.1%. However, negative 0.8% growth in the production sector has pushed GDP down.

Industrial production in the UK fell by 0.4% in November

Industrial production in the UK fell 0.4% in November from a month earlier, the Office for National Statistics said in a report released on Friday. The main contributor to the decline in this figure was a 0.3% decline in manufacturing, while electricity and gas, as well as production, mining and quarrying fell by 1.1% and 1.3%, respectively.

The decline in industrial output was the result of a decline in eight out of 13 sub-sectors, with the largest decline coming from basic metals and metal products, which fell by 3.6%.

During the three months to November, total production fell by 0.8% compared to the three months to August, with all four major sectors falling for the first time since October 2012. Meanwhile, the annual figure was 0.9% lower, indicating the weakest growth since August 2013, and for the first time since October 2012, there was widespread weakness in all four sectors

Differential of the GBP after the data

The pound was trading at 137.82 against the yen, 1.2502 against the franc, 0.9052 against the euro and 1.2729 against the dollar at around 11:31 am.


Other analysis

USD/JPY Technical analysis 18 January 2019

Time frame Used - four hours The USDJPY is moving in a sideway direction in the near term. The USDJPY is still facing resistance and selling pressure around the resistance level of 109.07 trying to breach this level to the upside, but we note that the USD/JPY moves between the upper boundary and the moving average line of the Bollinger indicator. In view of the technical indicators Both the RSI…

More analysis

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any doubts.TradingPekk.com does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.