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    UK GDP Up 0.3% – In line with expectations

    2016-05-11_17-17-29

    GBPUSD, H1   

    The NIESR (National Institute of Economic and Social Research) confirmed its GDP estimate for the UK at 0.3% for the three months to April. This was in line with expectations, with the previous figure upgraded to 0.4% from 0.3%.

     The UK continues to grow but it’s stumbling along, the Brexit  debate and the global outlook continues to hang over growth prospects.  This is no surprise and ammunition for both sides in the EU referendum debate.

    Following the poor production data earlier today sterling came under pressure but has recovered, GDPUSD currently trades at 1.4440 whilst the EURGBP is now over the 0.7900 level.

     

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    Stuart Cowell

    Market Analyst 

    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission


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