Free Trial

Activity data unlikely to move markets much

UK DATA
  • At first glance, the quarterly breakdown looks a bit disappointing but the headline for Q/Q GDP at -0.03%Q/Q (above consensus at -0.1%Q/Q but broadly in line with the BOE's forecast of -0.02%.
  • The monthly data is a bit better than expected.
  • GBPUSD saw less than a 10 pip spike higher on the data. Will look more into the details but doesn't really look as though there's much here to move the market much - and as we noted there were asymmetric risks here so if the print would have been worse than expected, we would have expected a bigger market reaction.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.