In the middle of the week, GBPUSD is rising a little bit supported by numbers.
The British Pound is growing a bit against the USD on Wednesday. The current quote for the instrument is 1.2966.
Yesterday, the United Kingdom published several macroeconomic reports, which showed that the British economy was getting a bit more stable. For example, the Industrial Production added 0.1% m/m in December after losing 1.1% m/m the month before. The actual reading is worse than expected, but the fact that it is positive is good news. The Manufacturing Production expanded by 0.3% m/m after reducing by 1.6% m/m in the previous month. The Construction Output increased by 0.4% m/m.
The British GDP in the fourth quarter of 2019 showed no changes after adding 0.4% q/q in the previous quarter. Probably, it happened due to Brexit concerns. In December, the indicator expanded by 0.3% m/m after losing the same 0.3% m/m in November.
According to Barclaycard, retail sales revived significantly at the beginning of this year, while consumer confidence reached the highest levels over the last three years. The latter indicator skyrocketed by 3.9% y/y in January, mostly due to petrol price growth and more active sales in supermarkets.
Despite the fact that this is a non-official data, it is quite positive and may be trusted. For the British Pound, it’s great news.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.