News of the day. December 20, 2013

December 20, 2013

Today investors will be able to estimate the economic growth of major countries: USA and UK. GDP data of both countries for the third quarter are going to be published. The indicator measures the value of all the finished goods and services produced within a country's borders as well as investments and export.

UK GDP is probably going to increase up to 0.8% in third quarter and reach the level of 1.5% in 2013. Positive stats are no surprise for the investors because preliminary numbers were the same. Fundamental data are also quite optimistic. October’s unemployment rate has dropped down to 7.4%, the lowest rate since 2009. However, today’s report of Bank of England reveals  that national economy is not fully recovered and GDP growth is determined by weakness of UK trading partners. The report shuts out of the hope of changes in monetary policy.

According to the forecasts, Gross Domestic Product in USA will grow up to the level of 3.6% in third quarter, the highest rate since 2010. The growth of US economy has been confirmed by the QE3 program reduction. However, the increase of GDP indicator has been determined not by the demand of consumers but by the increase of goods in storage, which can badly affect production volumes.

Regarding fundamental data we expect the pair GBP/USD to ascend to the level of 1.6385, but then drop down to the levels of 1.6300, 1.6265 and even 1.6230.

Dmitriy Zolotov

Analyst of LiteForex Groups of Companies

Publication source
LiteForex information  LiteForex reviews

February 17, 2017
Golds rally may falter
The gold price has racked up its 2nd straight day of gains today on the back of US dollar weakness and doubts over an interest rate hike next month from the US Federal Reserve...
February 16, 2017
Where is black gold heading?
The Euro is slowly going down and this is not brought on by the Eurozone situation. Instead, this is fueled by the U.S. Dollar. Yesterday, Janet Yellen gave a speech in the Senate Banking Committee emphasising the fact that it Is not quite right to use the wait-and-see stance regarding the interest rate hike...
February 14, 2017
Will France exit the euro?
The Euro has come under pressure late in the European session today, after analysts warned of the huge costs that France would face should they decide to ditch the European currency...

Cms Trader Rating
Tickmill Rating
XM Rating
FxPro Rating
FOREX.com Rating
NPBFX Rating

Dragon Options Rating
Migesco Rating
EZTrader Rating
OptionRally Rating
Anyoption Rating
OptionBit Rating