Sterling hits losses against major currencies after pessimistic data
2019-06-10 10:42 am | Resource: NEWS | No Views : 88
British currency fell against the dollar on Monday after a string of disappointing macroeconomic reports. Where it gave up its gains against its other major counterparts as markets appeared to have weighed the effects of uncertainty in Britain's exit from the EU and expected a decline.
UK GDP growth to 0.3% in the quarter to April
UK gross domestic product (GDP) rose 0.3% in the quarter to April compared to the previous three months, according to monthly estimates released by the country's National Statistics Office on Monday. This figure represents a slowdown from the 0.5% growth recorded in the first quarter of 2019. On a monthly basis, the UK economy contracted by 0.4% in April.
Said the head of the Office of National Statistics Rob Kent Smith. "GDP growth has shown some weakness in the last three months, as the economy shrank in April mainly due to the sharp drop in car production, with uncertainty ahead of the UK's original departure date in the EU, leading to planned closures,
Quarterly growth in the services sector was 0.2%, while the production sector grew 0.7% in the three-month period, with manufacturing up 1.2%.
UK industrial production fell in April
The UK's National Bureau of Statistics said in a statement released on Monday that industrial output in the UK fell by 2.7% in April from the previous month. The decline in manufacturing was 3.9%, the biggest drop since June 2002, the main contributor to lower production, while transport equipment fell to its lowest level since January 1974, falling by 13.4%.
Meanwhile, production output for the three months to April increased by 0.7%, driven by a 1.2% rise in manufacturing and a 2.9% increase in mining and quarrying.
The UK trade deficit rose from £ 2.7 billion to £ 15.6 billion in the three months to April
The UK trade deficit rose by 2.7 billion pounds to 15.6 billion pounds in the three months to April 2019, the National Bureau of Statistics said on Monday. The trade deficit widened by £ 2.8 billion to £ 43.4 billion, while surplus services increased by £ 100 million to £ 27.9 billion. In the 12 months to April, the trade deficit widened 19.3 billion pounds to 44.6 billion pounds.
The data showed that excluding non-speculative commodities, including non-monetary gold, the overall trade deficit fell by 4.2 billion pounds and totaled £ 6.6 billion from February to April.
The trade deficit with EU member states increased by £ 0.4 billion in the last reporting period, while it rose by £ 2.4 billion with countries outside the European Union, at £ 18.4 billion.
- The British Pound was down 0.32% at $ 1.26967 at 11:45 CET.
- The euro rose just 0.07% to £ 0.89029. However, it briefly touched 0.89077 pounds for the first time since January 15.
- In front of the yen the pound was almost steady at 137.802 yen, and failed to maintain its highest level in a month.
- The Pound saw slight changes in the exchange rate compared to CHF at 1.25829.
We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…
- Best Opportunities, Vision and Technical Analysis for the GBP/USD pair 17 April 2019 11:04 pm2019-04-16
- Best Opportunities, Vision and Technical Analysis for the EUR/USD pair 17 April 2019 11:00 pm2019-04-16
- Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 16 April 2019 09:02 am2019-04-16
- Best Opportunities, Vision and Technical Analysis for the GBP/USD pair 16 April 2019 09:00 am2019-04-16
- Best Opportunities, Vision and Technical Analysis for the EUR/USD pair 16 April 2019 08:59 am2019-04-16
- Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 15 April 2019 10:05 pm2019-04-14
- Best Opportunities, Vision and Technical Analysis for the GBP/USD pair 15 April 2019 09:46 pm2019-04-14
- Best Opportunities, Vision and Technical Analysis for the EUR/USD pair 15 April 2019 09:33 pm2019-04-14
- Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 12 April 2019 01:19 am2019-04-12
Best trading brokers
- Bitcoin burglars succeed in stealing 140,000 dollars of encrypted currency 2017-11-07
- Euro zone manufacturing PMI widen in June, EUR /USD Slip’s 2017-07-03
- Chairman Gaincarlo just made the most bullish statements in front of the Congress 2018-02-06
- commodities Fundamental analysis aaab 2017-08-13
- job growth slowed by much more than anticipated in the month of March 2018-04-06
- Technical analysis and outlook for most currencies - commodities and Shares for 2019 05:20 pm 2019-01-01
- The last part: the difference between correction and reflection and how to trade them? 09:36 am 2018-12-18
- Difference between correction and reversal and how to trade them? 08:04 am 2018-12-17
- Dogecoin .. Electronic currency arose as a result of irony 03:54 pm 2018-01-26
- Currency and commodity analysis for 2018 05:14 pm 2018-01-01