UK’s economy pushes back up slightly, as construction and services sectors have improved a bit. That said, production remained more on the flat side overall, which keeps traders closer to reality, that there is still a huge way to go, in order to get the British economy to more stable levels. Certainly, one factor which is not allowing to do that is the ongoing Brexit issue, and as we know, this problem is here to stay for now. UK will release their employment numbers today, which will be carefully monitored by market participants, in order to understand if the British labour market is still resilient to the fluctuations in the domestic economy.
UK was again at centre stage yesterday, with both economic data and political news. First, the UK released its YoY GDP number, together with the preliminary QoQ GDP figure for Q3. Probably all the focus fell on the QoQ reading, which came out below expectation of +0.4%, at +0.3%. But despite the miss by one tenth of a percent, the number was still way better than the previous reading of -0.2%. Traders took that in a positive way and pushed the British pound higher against all of its major counterparts. A rise in the preliminary business investment numbers also...
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