Pound Advances As U.K. GDP Beats Forecasts
12 Mayo 2021 - 1:02AM
RTTF2
The pound appreciated against its major rivals in the European
session on Wednesday, as the U.K. economy grew more than forecast
in March.
Data from the Office for National Statistics showed that GDP
rose 2.1 percent month-on-month in March, the fastest growth since
August 2020.
That beat forecasts for an increase of 1.3 percent following the
revised 0.7 percent rise in February.
The service sector grew 1.9 percent from February. Output in the
production sector climbed 1.8 percent, as manufacturing grew for a
second consecutive month, at 2.1 percent.
At the same time, the construction sector expanded 5.8 percent
in March, driven by growth in both new work and repair and
maintenance.
Another data showed that the visible trade gap widened to GBP
11.7 billion from GBP 10.5 billion in February.
The surplus on services came in at GBP 9.74 billion.
Consequently, the total trade deficit rose to GBP 1.96 billion from
GBP 856 million a month ago.
Further underpinning sentiment was rising European shares amid
strong earnings reports and hopes of a swift economic recovery from
the pandemic.
The pound recovered to 1.4149 against the greenback, from a low
of 1.4108 seen at 11:45 pm ET. The pound is likely to find
resistance around the 1.43 level.
The pound reached as high as 153.93 against the yen, up from
Tuesday's close of 153.57. The pound is seen finding resistance
around the 156 region.
Preliminary data from the Cabinet Office showed that Japan's
leading index rose to the highest level in seven years in
March.
The leading index, which measures the future economic activity,
grew to 103.2 in March from 98.9 in February.
The pound touched the key 1.2800 level against the franc for the
first time since April 21. If the pound rises further, 1.30 is
possibly seen as its next resistance level.
The pound spiked higher to its highest level since April 6
against the euro, at 0.8575. The next possible resistance for the
pound is seen around the 0.84 level.
Final data from Destatis showed that Germany's consumer price
inflation hit a two-year high in April.
The consumer price index rose 2.0 percent year-on-year following
1.7 percent increase in March.
Looking ahead, U.S. CPI and monthly budget statement for April
are scheduled for release in the New York session.
Sterling vs CHF (FX:GBPCHF)
Gráfica de Divisa
De Mar 2024 a Abr 2024
Sterling vs CHF (FX:GBPCHF)
Gráfica de Divisa
De Abr 2023 a Abr 2024