UOB Group’s Senior Economist Alvin Liew comments on the revised Q2 GDP figures in Singapore. Key Takeaways “Singapore’s final 2Q 2022 GDP was revised lower sequentially to a contraction of 0.2% q/q SA (versus prelim print of 0.0% q/q SA) after recording a downwardly revised 0.8% expansion in 1Q (from 0.9% previously). Compared to a… Read More »
GBP/JPY gains some positive traction on Friday and recovers further from the weekly low. Mostly better-than-expected UK macro data benefits the British pound and offers support. The offered tone surrounding the safe-haven JPY remains supportive of the positive move. The GBP/JPY cross builds on the overnight goodish bounce from the 161.25 area, or the weekly… Read More »
EUR/GBP renews intraday high, before ticking lower, while staying inside a trend widening chart pattern. UK Q2 GDP shrank 0.1% QoQ versus -0.2% expected, monthly statistics came out softer on MoM, firmer on YoY. Double top around 0.8470 tests bulls, bears need validation from 200-HMA. EUR/GBP remains pressured around 0.8460-55 area after an initial wick to 0.8447… Read More »
GBP/USD initially spiked up before retreating on the UK data-dump. UK Q2 GDP contracted 0.1%, monthly statistics remained fairly mixed for June. US dollar weakness initially helped cable bulls but Fed’s resistance to welcome inflation probed upside momentum. First impressions of the US Michigan Consumer Sentiment Index for August will be eyed to confirm inflation-linked… Read More »
Quarterly GDP for the UK contracted by 0.1% in Q2 vs. -0.2% expected. UK GDP arrived at -0.6% MoM in June vs. -1.3% expected. GBP/USD recaptures 1.2200 on upbeat UK GDP. The British economy contracted 0.1% QoQ in the three months to June when compared with a 0.8% growth booked in Q1 and -0.2% expectations.… Read More »
The British economic calendar is all set to entertain the cable traders in early Friday, at 06:00 GMT, with the preliminary GDP figures for Q2 2022. Also increasing the importance of that time are monthly GDP figures for March, Trade Balance, Manufacturing Production, and Industrial Production details for the stated period. Having witnessed an 8.7%… Read More »
GBP/USD extends the previous day’s losses towards refreshing daily low, mildly offered of late. Hawkish Fedspeak contradicts recently softer US inflation data and helps US dollar to lick its wounds after five-day downtrend. Jitters surrounding UK politics, Brexit join BOE’s gloomy outlook to keep buyers at bay. The preliminary reading of the UK’s Q2 GDP… Read More »
EUR/GBP is sensing selling interest around 0.8470 despite the lower consensus for UK economic data. UK households are making higher payouts as subdued earnings are unable to offset soaring inflation. The second-tier Eurozone data is expected to display a vulnerable performance. The EUR/GBP pair is facing barricades around the immediate hurdle of 0.8465 continuously since… Read More »
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GBP/USD is facing barricades around 1.2200 as investors await UK GDP data. A vulnerable UK GDP will accelerate troubles for the BOE. Higher Initial Jobless Claims have supported the DXY at lower levels. The GBP/USD pair is hovering around the immediate hurdle of 1.2200 after a modest rebound from 1.2185. The asset defended Wednesday’s low… Read More »
GBP/USD keeps pullback from one-week high, holds lower grounds near daily lows. US dollar retreats as Fedspeak fails to praise inflation miss, China-linked news favor safe-haven demand. UK ministers will meet major energy firms amid talks of tightening a 25% levy on the North Sea oil and gas operators. US Jobless Claims, PPI will also… Read More »
