
When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
In the first quarter the British GDP tacked on by about 0.1% in annual terms, as follows from preliminary data uncovered by the National Statistical Office (ONS).
It appears to be the weakest rise since the end of 2012, as the Guardian pointed out. The slowdown in surge rates at the beginning of this year was due to in particular snow weather, which affected the volume of construction as well as retail sales.
Market experts on average expected an increase of up to 0.3% in quarterly terms and also up to 1.4% in annual terms. That’s what Trading Economics informed.
In the fourth quarter of the previous year, the increase in GDP accounted for about 0.4% as well as 1.4%, respectively.
The most significant negative impact on the rate of economic recovery in the country was provided by the construction sector – it headed south approximately 3.3%.
Services in the United Kingdom tacked on by up to 0.3%, processing industry acquired 0.2%, while industrial production managed to gain by about 0.7%.
The preliminary estimate of ONS accounts for approximately 44% of all data collected for GDP.
After the publication of data on GDP, the British pound dived to the lowest value for the last seven weeks – demonstrating an outcome of $1.3815.
Investors suggest that a weak economic recovery is going to force the Bank of England to wait with a lift in interest rates. Money market traders are currently assessing the chances that the British Central Bank will take such a step at the gathering next month, only at the level of 27% versus 56% on Thursday. The majority predicts the first this year rate increase in December versus the previously anticipated November.
When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
The US Consumer sentiment will shake the market today. We are back with more news for you to enjoy!
Today, the US Inflation release at 15:30 GMT+3 will determine the further destiny of the major pairs and gold. The event is highly impactful, as the Federal Reserve will make decisions regarding further rate hikes based on it. Also, we brought you some news about XAUUSD and GBPUSD. Stay tuned!
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
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