UK economic data in the last couple of weeks were not as bad as feared on balance. While trade surplus declined a bit more than expected in July, the declines in both industrial and manufacturing production were less than forecast. And the GDP growth was in line with expectations. Thus, the trade surplus declined to £1.1 billion in July from £3.9 when a decline to £1.2 billion was expected. And the industrial and manufacturing productions declined 7.8% and 9.4% over year in July when 8.7% and 10.8% drops where forecast. At the same time the UK economy grew by 6.6% in July 2020, the third consecutive monthly increase. Improving data are bullish for GB100.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Buy | |
| MA(100) | Sell | |
| Fractals | Neutral | |
| Parabolic SAR | Buy |
| Order | Buy |
| Buy stop | Above 6081.11 |
| Stop loss | Below 5780.24 |
Market Analysis provided by IFCMarkets.com
By JustMarkets On Thursday, the American market was gripped by panic amid a sharp spike…
By ForexTime RBA expected to HIKE interest rates BoC, Fed, BoJ, BoE, ECB, SNB and…
By Analytical Department RoboForex USD/JPY rose to 159.29 on Friday, marking one of the weakest…
By JustMarkets On Wednesday, US stock indices closed in the red amid the escalating conflict…
By Analytical Department RoboForex Gold prices fell below 5,150 USD per ounce on Thursday, marking…
By André O. Hudson, Rochester Institute of Technology Tensions in the Middle East often trigger…
This website uses cookies.