The British Pound traded sideways against the US Dollar, following the UK GDP and Manufacturing Production data release on Wednesday at 06:00 GMT. The GBP/USD exchange currency rate gained 4 pips or 0.03% after the release. The Pound continued trading at the 1.3060 level against the Greenback after the release.
The Office for National Statistics released the UK Prelim GDP data, which came out better-than-expected of negative 20.4% compared with the forecast of negative 20.5%.
According to the official release: "Despite the weakness in Quarter 2 2020, there was some pick up in June as government restrictions on movement started to ease. There have been record quarterly falls in services, production and construction output in Quarter 2, which have been particularly prevalent in those industries that have been most exposed to government restrictions."
| Date | 09.08.19 | 11.11.19 | 11.02.20 | 13.05.20 | 12.08.20 |
|---|---|---|---|---|---|
| Actual | -0.2% | 0.3% | 0.0% | -2.0% | -20.4% |
| Forecast | 0.0% | 0.4% | 0.0% | -2.6% | -20.5% |
| Pair | Open | Close | Change |
|---|---|---|---|
| EUR/GBP | 0.89945 | 0.89934 | -0.01% |
| GBP/CAD | 1.73823 | 1.73847 | 0.01% |
| GBP/JPY | 139.11700 | 139.199 | 0.06% |
| GBP/USD | 1.30364 | 1.30431 | 0.05% |
| Pair | Longs | Shorts |
|---|---|---|
| EUR/GBP | 41.3% | 58.7% |
| GBP/CAD | 27.2% | 72.9% |
| GBP/JPY | 56.2% | 43.8% |
| GBP/USD | 32.3% | 67.7% |
Economic calendar