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The Sterling was seen weaker against the US Dollar after the UK GDP growth report came in on Thursday. The GBP/USD currency pair lost 13 base points, or 0.09%, to 1.3878 to continue fluctuating whileafter.
The UK Office for National Statistics said that the second estimate for Britain's GDP growth in the final quarter of 2017 reflected a short downward revision from the first estimate, falling to the 0.4% quarterly growth pace. However, business investment growth remained stand-still, expansion in business services and finance within the services sector was the largest contributor to the increase of the UK's GDP. In annual terms, the UK economy grew 1.7%, slightly lower than expected.
| Historical Data Table: UK Second Estimate GDP q/q | Economic Calendar for Feb 22.02.2018 | ||||||||
| Date | 22.02.2017 | 25.05.2017 | 24.08.2017 | 23.11.2017 | 22.02.2018 | 1:30 PM | CAD Core Retail Sales m/m | ||
| Actual | 0.70% | 0.20% | 0.30% | 0.40% | 0.40% | 9:45 PM | NZD Retail Sales q/q | ||
| Forecast | 0.60% | 0.30% | 0.30% | 0.40% | 0.50% | 11:30 PM | JPY National Core CPI y/y | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 1.38913 | 1.38785 | -0.09% | GBP/USD | 44.01% | 55.99% | |||
| EUR/GBP | 0.88492 | 0.88543 | 0.06% | EUR/GBP | 25.08% | 74.92% | |||
| GBP/CAD | 1.76335 | 1.76147 | -0.11% | GBP/CAD | 45.61% | 54.39% | |||
| GBP/JPY | 148.993 | 148.883 | -0.07% | GBP/JPY | 55.42% | 44.58% | |||