GBP/USD hovering around 1.2950, the highest level for four months before GDP in the United Kingdom, factory data
- GBP/USD maintains its location near the highest level in four months at 1.2989 accessed on March 13.
- The weakest feeling of risk after President Trump threatened a 200 % tariff for European wines and champagne.
- Traders will closely see GDP numbers in the United Kingdom, where the Bank of England has expressed concerns about economic expectations.
GBP/USD continues to decrease in the second consecutive session, and is trading near 1.2940 during the Asian session on Friday. The husband faces challenges as the British pound (GBP) is fighting amid weakness of risk morale, and is exacerbated by concerns about global trade after US President Donald Trump threatened a 200 % tariff for European wines and Shampagin, and worrying markets.
Traders are now waiting for the monthly total local products in the United Kingdom (GDP) and factory data for January, which was released on Friday. Investors will closely see GDP numbers in the United Kingdom, where the Bank of England (Bank of England) has expressed their concerns about economic expectations. At the February Policy meeting, the Bank of England decreased the gross domestic product growth forecast for the year to 0.75 %, a decrease from 1.5 % expected in November.
The US dollar (USD) is estimated due to concerns about installation on a global economic slowdown, as merchants focus on consumer morale data in Michigan on Friday. The US dollar index (DXY), which tracks the dollar against six main currencies, has gained strength after the report of the unemployed demands on Thursday and the price of the price index is the weakest of the expected (PPI). DXY is trading around 104.00 at the time of writing this report.
The demands of the unemployed for the American initial work for the week ended on March 7 to 220,000, or less than 225,000 expected. Continuous claims decreased to 1.87 million, less than 1.90 million expectations, indicating flexibility in the American labor market.
The United States’s inflationary pressures showed signs of mitigation. The producers’ price index increased by 3.2 % year on an annual basis in February, a decrease from 3.7 % in January and less than the market expectations 3.3 %. Core PPI, which excludes food and energy, increased by 3.4 % annually, compared to 3.8 % in January. On a monthly basis, the main product price index has not changed, while Core PPI decreased by 0.1 %.
Economic indicator
GDP (mom)
GDP (GDP), issued by the office for National statistics On a monthly and separate basis, it is a measure of the total value of all goods and services produced in the United Kingdom during a certain period. The gross domestic product is the main measure of economic activity in the United Kingdom. Reading my mother compares the economic activity in the reference month to the previous month. In general, the rise in this indicator is bullish for the sterling (GBP), while low reading is seen as declining.
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