The British Pound traded sideways against the US Dollar, following the UK GDP data release on Tuesday at 06:00 GMT. The EUR/USD exchange currency rate lost 4 pips or 0.03% after the release. The Pound continued trading at the 1.2520 level against the Greenback after the release.
The Office for National Statistics released the UK GDP data, which came out worse-than-expected of 1.8% compared with the forecast of 5.5%.
According to the official release: "Manufacturing and house building showed signs of recovery as some businesses saw staff return to work. Despite this, the economy was still a quarter smaller in May than in February, before the full effects of the pandemic struck. In the important services sector, we saw some pickup in retail, which saw record online sales. However, with lockdown restrictions remaining in place, many other services remained in the doldrums, with a number of areas seeing further declines."
| Date | 11.03.20 | 09.04.20 | 13.05.20 | 12.06.20 | 14.07.20 |
|---|---|---|---|---|---|
| Actual | 0.0% | -0.1% | -5.8% | -20.4% | 1.8% |
| Forecast | 0.2% | 0.1% | -7.9% | -18.6% | 5.5% |
| Pair | Open | Close | Change |
|---|---|---|---|
| EUR/GBP | 0.90375 | 0.90409 | 0.04% |
| GBP/CAD | 1.70952 | 1.70873 | -0.05% |
| GBP/JPY | 134.55800 | 134.513 | -0.03% |
| GBP/USD | 1.25479 | 1.25437 | -0.03% |
| Pair | Longs | Shorts |
|---|---|---|
| EUR/GBP | 30.8% | 69.2% |
| GBP/CAD | 26.9% | 73.2% |
| GBP/JPY | 56.9% | 43.1% |
| GBP/USD | 53.5% | 46.5% |
Economic calendar