UK GDP YoY Actual 1.3% (Forecast 1.3%, Previous 1.3%)
UK GDP QoQ Actual 0.1% (Forecast 0.1%, Previous 0.1%)
The data was in line with expectations, but the British pound gained after the release, which may indicate that part of the market expected lower revisions in the GDP reading. In theory, data pointing to economic growth should be hawkish for the currency, increasing the chances of a more conservative central bank policy, so there are no surprises here and the reading seems to have little impact on changing these expectations. On the other hand, however, the pound is up after.
BREAKING: US CPI in line with estimates! EURUSD muted!
Will Inflation Kill the Chances of a September Rate Hike?
Oil One Step Closer to $90 🔼 Iranian Sources Comment on the Ceasefire
USDJPY Nearing 160