GBPUSD is looking weak but not boosting its decline after the statistics.
The British Pound remains weak against the USD on Wednesday but the statistics published yesterday prevent it from falling deeper. The current quite for the instrument is 1.3776.
According to the final estimate, the British GDP showed 1.3% q/q in the fourth quarter of 2020 against the expected reading of 1.0% q/q. In 2020, the British economy lost 7.4% y/y against the expected decline of 7.8% y/y. The year was extremely difficult so the latest growth might be considered positive – the economy finally started gathering strengths.
The Nationwide HPI lost 0.2% m/min March after adding 0.7% m/m in February. The actual reading is worse than expected but was probably influenced by the cold weather this winter and the lockdowns.
According to the BRC, the Shop Price Index lost 2.4% y/y in March because of huge sales, discounts, and special offers. Prices for non-food items lost 4.0%, while food prices added 0.3%. Seasonal clothes and footwear attract little attention but the food prices growth all over the world is finally shown here as well.
The USВ remains strong, thus putting significant pressure on the Pound and making it retreat.
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