Market Analysis

Stay informed with our timely forex analysis



UK GDP rises 0.1% MoM in February, as expected



  • UK GDP expanded 0.1% MoM in February vs. 0.1% estimate.


  • GBP/USD remains below 1.2650 after the UK data.



The latest data from the Office for National Statistics (ONS) shows that the UK economy expanded by 0.1% in February, matching market expectations. This follows a 0.3% growth in January. Despite the modest growth, the GBP/USD remains below the 1.2650 mark, trading at 1.2535, down 0.10% on the day.


The Index of Services showed a slight improvement, registering a 0.2% increase for the three months leading up to February, compared to a flat reading in January. Industrial and Manufacturing Production also saw gains in February, rising by 1.1% and 1.2% respectively on a monthly basis.


However, the UK Goods Trade Balance recorded a deficit of GBP 14.212 billion in February, slightly better than the expected GBP 14.50 billion but higher than the previous month's GBP 14.097 billion deficit.


The mixed economic data has put pressure on the Pound Sterling, contributing to its current downward trend against the US Dollar.

Terms & Conditions Privacy Policy

2024 © - All Rights Reserved by Bacera Co Pty Ltd

Risk Disclosure: Trading Contracts for Difference on margin carries a high level of risk, and may not be suitable for all investors. By trading Contracts for Difference, you could sustain a loss of all your deposited funds. BCR makes no recommendations as to the merits of any financial product referred to on our website, emails, or related material(s). The information contained on our website, emails, or related material(s) does not take into consideration prospective clients' trading objectives, financial situations, or investment needs. Before deciding to trade the Contracts for Difference offered by BCR, please ensure that you have read our Product Disclosure Statement Financial Services Guide Target Market Determination , and have sought independent professional financial advice to ensure you fully understand the risk involved before trading.

"BCR" is a registered business name of Bacera Co Pty Ltd, Australian Company Number 130 877 137, Australian Financial Services Licence Number 328794.

The information on this site is not directed at residents of any particular country outside of Australia and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.