The Pound is rising thanks to the GDP report. Overview for 25.10.2017

The GBP/USD pair is responding positively to the UK GDP numbers in the third quarter.

The British Pound is rising actively against the USD on Wednesday afternoon. The current quote for the instrument is 1.3166.

Such active growth was caused by the preliminary report on the GDP. According to the statistics, the indicator expanded by 0.4% q/q after adding 0.3% q/q in the previous quarter and against the same expected reading. On YoY, the indicator added 1.5%, although it was predicted to increase by ¼%.

Long-term investors are very curious if the British economy continues improving after the Brexit negotiations escalation. One must admit that it might. Nothing groundbreaking in the Brexit procedure in the third quarter, but the businesses in the United Kingdom continue operating, investing, buying, and selling.

On the whole, the preliminary report on the GDP is considered as positive. By the end of the year, the British economy may expand by 1.6 – 1.8% and that’s a very good result.

RoboForex Analytical Department