UK growth flatlined in April, adding to the woes of yesterday's concerning jobs data. GBP/USD will be data dependent today as markets await crucial US CPI and the FOMC forecasts
2024-06-12 09:33:50UK GDP Stalls in April, Adding to the Misery of Yesterday’s Jobs RoutThe UK economy failed to grow in the entire month of April as manufacturing, industrial production and especially construction registered contractions. April’s data compared to April of 2023 witnessed a 0.6% increase, marginally lower than last month’s 0.7% increase.
GBP/USD found support at 1.2736, remaining within the ascending channel. Upside levels of interest appear at 1.2800 and 1.2895. Conversely, an encouraging CPI print can add to the reprieve seen in the pair recently.
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