The pound is moderately growing
28.01.2016
On Thursday, the GBP/USD pair is growing against the weakness of the dollar and the published British statistics.
The British Pound is rising in tandem with the US currency on Thursday. The current quote in the GBP/USD is 1.4294. Of course, this is not a rebound - just a slight recovery on the background of quite objective reasons, but it's better than the January "bottom".
Today the UK has released statistics on the GDP for the fourth quarter. The report from the Office for National Statistics showed that the UK economy expanded by 0.5% for the period against 0.4% growth in the quarter before. The data is in line with expectations. The main contribution to GDP growth is still the neon-manufacturing sector strengthening by 0.7% in October-December 2015. Then the agriculture sector looks good. The manufacturing sector for the period decreased by 0.2%, and the segment of construction dipped by 0.1%.
Yearly the British economy grew in the fourth quarter of 2015 by 2.2%.
This look very nice, although the fact that the support is maintained only at the expense of the service sector is still worrying. Agriculture is not able to provide complete support for the system. It would be ideal if the manufacturing sector would also gradually revive, but there is little that can be said with certainty due to the low demand both in Britain and abroad.
RoboForex Analytical Department
The British Pound is rising in tandem with the US currency on Thursday. The current quote in the GBP/USD is 1.4294. Of course, this is not a rebound - just a slight recovery on the background of quite objective reasons, but it's better than the January "bottom".
Today the UK has released statistics on the GDP for the fourth quarter. The report from the Office for National Statistics showed that the UK economy expanded by 0.5% for the period against 0.4% growth in the quarter before. The data is in line with expectations. The main contribution to GDP growth is still the neon-manufacturing sector strengthening by 0.7% in October-December 2015. Then the agriculture sector looks good. The manufacturing sector for the period decreased by 0.2%, and the segment of construction dipped by 0.1%.
Yearly the British economy grew in the fourth quarter of 2015 by 2.2%.
This look very nice, although the fact that the support is maintained only at the expense of the service sector is still worrying. Agriculture is not able to provide complete support for the system. It would be ideal if the manufacturing sector would also gradually revive, but there is little that can be said with certainty due to the low demand both in Britain and abroad.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.