BREAKING: UK GDP prelim and industrial production stronger than expected📈 GBPUSD surges 0.5%

UK GDP QoQ Prelim (Q4 2024): 0.1% (Forecast -0.1%, Previous 0.0%)

• UK GDP YoY Prelim: 1.4% (Forecast 1.1%, Previous 0.9%)
• UK GDP Estimate YoY: 1.5% (Forecast 1%, Previous 1.0%)
• UK GDP Estimate MoM: 0.4% (Forecast 0.1%, Previous 0.1%)

UK Manufacturing Production MoM (December 2024): 0.7% (Forecast -0.1%, Previous -0.3%)

• UK Industrial Production MoM: 0.5% (Forecast 0.2%, Previous -0.4%)
• UK Industrial Production YoY: -1.9% (Forecast -2.1%, Previous -1.8%)
• UK Manufacturing Production YoY: -1.4% (Previous -1.2%)
• UK Construction Output MoM: -0.2% (Forecast 0.2%, Previous 0.4%)

UK Services MoM (December 2024): 0.4% (Forecast 0.1%, Previous 0.1%)​​​​​​

UK Business Investment QoQ Prelim (Q4 2024): -3.22% (Forecast -0.5%, Previous 1.9%)

UK Goods Trade Balance (December 2024): -17.447B (Forecast -18.7B, Previous -19.31B)

GBPUSD surges more than 0.5% today on weakening US dollar and stronger than expected UK macro data for Q4 2024 and December 2024. On the chart we can see a potentially bullish, reversed head and shoulder pattern signalling change in the short-term trend.

Source: xStation5

Source: XTB Research, Bloomberg Finance L.P.

Source: XTB Research, Bloomberg Finance L.P.

Final German CPI came in line with previous data

• ​​​German HICP Final YoY: 2.8% (Forecast 2.8%, Previous 2.8%)
• German HICP Final MoM: -0.2% (Forecast -0.2%, Previous -0.2%)
• German CPI Final MoM: -0.2% (Forecast -0.2%, Previous -0.2%)
• German CPI Final YoY: 2.3% (Forecast 2.3%, Previous 2.3%)