BREAKING: GBPUSD gains after UK GDP report 📣

07:00 AM BST, United Kingdom - GDP data for May:

• GDP: actual 0.4% MoM; forecast 0.2% MoM; previous 0.0% MoM;
• GDP: actual 1.4% YoY; forecast 1.2% YoY; previous 0.7% YoY;
• Monthly GDP 3M/3M Change: actual 0.9%; forecast 0.7%; previous 0.7%;

07:00 AM BST, United Kingdom - Manufacturing Production for May:

• actual 0.4% MoM; forecast 0.4% MoM; previous -1.6% MoM;
• actual 0.6% YoY; forecast 1.2% YoY; previous -0.4% YoY;

07:00 AM BST, United Kingdom - Industrial Production for May:

• Industrial Production: actual 0.2% MoM; forecast 0.3% MoM; previous -0.9% MoM;
• Industrial Production: actual 0.4% YoY; forecast 0.6% YoY; previous -0.7% YoY;

The UK's GDP for May increased by 0.4% month-on-month, surpassing the expected 0.2%. The breakdown shows the services sector contributing 0.22% to GDP growth, industrial output 0.03%, and construction 0.11%. Notably, the services sector has been a strong performer, growing by 1.1% in the three months to May, the highest since December 2021.