It’s the only data of note coming up in our session but it’s also one of the most eagerly awaited/talked about in recent days/weeks.
Will the data show the UK slipping into triple-dip recession?
Forecasts for today’s first reading say no, with expectations of growth being shown of m/m +0.1% vs -0.3% and y/y +0.3% vs +0.2%
Recent data has not been so good for the UK and it’s difficult to see where any significant improvement on the forecasts could come from but hey, we should always expect surprises in these markets. Even so, +0.1-0.3% is not exactly signs of an economy full of growth. Everything must be kept in perspective.
Either way GBPUSD remains a coin-flip at these levels ( 1.5325) given the tight trading band of 1.5200-1.5400 recently and today’s data release should provide opportunity still for both bulls and bears.
