During today's press conference, the ECB president said that the data was "somewhat" better than the expectations in the first quarter. T
Sterling reaches day’s maximum after British GDP data
On Wednesday, the British pound grew to the day’s maximum after data unveiling that the British economy managed to pick up during the third quarter. It undoubtedly increased the chances of an interest rate lift by the Bank of England already next month.
The currency pair GBP/USD tacked on 0.31% being worth 1.3176.
As the Office for National Statistics informed, UK GDP ascended by 0.4% by September, gaining 0.3% in the previous quarter. Market experts had hoped it would keep to 0.3%.
On a year-over-year basis the British economy expanded 1.5%. It matched last quarter’s surge and above estimates for an expansion of about 1.4%.
Service sector output provided turned to be the cornerstone of the surge, expanding by approximately 0.4% on the quarter.
As for the manufacturing sector, it returned to growth too, with output ascending by 1.0%, although construction activity dived by 0.7% on the quarter.
Australia will release the level of employment change and unemployment rate on June 13, at 4:30 MT time.
The level of non-farm payrolls, also known as non-farm employment change or NFP will be out on June 7, at 15:30 MT time.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…