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 »
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 »
UK equities have held up well. The FTSE 100 index is up 1.5% year to date, outperforming other major markets. Economists at UBS see reasons why UK equities can continue to do well. The drivers of the FTSE 100 are more international “FTSE 100 companies generate around 75% of their revenues outside the UK, which… Read More »
