Trading Patterns

UK Q2 GDP improved to 0.2% QoQ, 4.4% YoY figures, GBP/USD retreats below 1.1150

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UK’s ultimate analyzing of the 2nd quarter (Q2) Gross Domestic Product (GDP) provided a nice shock on early Friday.

That said, the Q2 GDP accelerated to 0.2% QoQ versus -0.1% preceding forecasts whilst the YoY figures extended to 4.4% versus 2.9% prior estimations.

Further important points advocate that the UK’s Q2 Current Account deficit eased to £-33.768B in contrast to £-43.8B market forecasts and £-43.875B prior (revised from £-51.3B).

GBP/USD fails to cheer upbeat data
GBP/USD pares intraday beneficial properties after the upbeat UK data. That said, the cable pair drops to 1.1132 by way of the press time, up 0.13% on a day.

Also read: GBP/USD Price Analysis: Teases dealers above 1.1055 support, US PCE Inflation, UK GDP eyed

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