The Pound is slightly correcting. Overview for 12.05.2021


GBPUSD is falling after finishing its rally, the statistics turned out to be rather mixed. 

The British Pound is falling against the USD. The current quote for the instrument is 1.4120.

Today’s statistics from the United Kingdom were rather mixed and the Pound is going to analyze these numbers for the entire trading session.  

For example, the preliminary report on the GDP for the first quarter of 2021 showed -1.5% q/q, which is better than expected (-1.6% q/q) but worse than the previous quarter. In March, the GDP showed 2.1% m/m, which is better than both the expected and previous readings of 1.5% m/m and 0.4% m/m respectively.

The biggest damage to the British economy was done by the lockdown and social restrictions. That’s the price of the quarantine but the country couldn’t have handled the pandemic without it. 

In the meantime, the Industrial Production in the United Kingdom added 1.8% m/m in March after expanding by 1.0% m/m in February and against the same expected reading. The Manufacturing Production skyrocketed by 2.1% m/m, which is much better than market expectations of 1.0% m/m.

It’s quite interesting but the first to revive was the construction sector, which added 5.8% m/m after increasing by 2.3% m/m in February and against the expected reading of 1.1% m/m. If one considers this indicator a leading one, the adjacent sectors, including the labor market, may also be expected to recover. 


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.