Market insights

UK Economic Outlook Brightens

Breakfast today saw the UK release its GDP, manufacturing, and industrial production numbers.

0.5% monthly GDP growth was reported, 2.2% monthly growth for manufacturing and 1.5% monthly growth in industrial production.

All of this bodes well for the overall UK economy.

However this wasn't immediately reflected in Sterling rates that barely flinched from the reports.

The Pound is still being trounced by the Euro, whilst it's off to the races versus the Dollar and the Chinese Yuan.

And that's basically reflective of the bigger global market picture.

Traders are turning away from assets with exposure to the tit for tat tariff war going on between the two biggest economies in the World, the US and China.

Going into the weekend it's American and Chinese scheduled news that's dominating the headlines.

In the US there's the Michigan consumer sentiment index later this afternoon followed by Chinese import and export numbers out in the early hours of Monday.

Business news covers the jittery fingers of the big traders. This week has seen relatively huge intra day swings as markets seesaw between massive gains and losses.

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Economic calendar

US: 15:00 Michigan Consumer Sentiment Index

CHN: Monday 04:00 Import and Export data

As ever we look forward to keeping you in the loop and look out for our next update.

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