- The United Kingdom’s GDP fell an intermensual 0.1% in May, a negative surprise.
- GBP/USD falls below 1,3550 behind the economic data of the United Kingdom.
The economy of the United Kingdom remained in contraction in May, with the Gross Domestic Product (GDP) falling 0.1%, after a 0.3% drop in April, according to the latest data published by the Office of National Statistics (ONS) on Friday.
The market consensus was 0.1% growth in the reported period.
Meanwhile, the Services Index (May) reached 0.4% 3m/3m compared to 0.6% in April.
Other data from the United Kingdom showed that the monthly industrial and manufacturing production stood at -0.9% and -1%, respectively, in May. Both readings were below market expectations.
Market reaction to the United Kingdom data
The discouraging United Kingdom Economic Data They weighed even more on sterling pound. At the time of writing, GBP/USD It quotes 0.18% on the day about 1,3540.
LIBRA ESTERLINA PRICE TODAY
The lower table shows the percentage of pounding sterling (GBP) compared to the main currencies today. Libra sterling was the weakest currency against the US dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.23% | 0.26% | 0.41% | 0.31% | 0.08% | 0.37% | 0.06% | |
| EUR | -0.23% | 0.02% | 0.21% | 0.07% | -0.07% | 0.12% | -0.17% | |
| GBP | -0.26% | -0.02% | 0.18% | 0.04% | -0.08% | 0.15% | -0.22% | |
| JPY | -0.41% | -0.21% | -0.18% | -0.11% | -0.36% | -0.09% | -0.39% | |
| CAD | -0.31% | -0.07% | -0.04% | 0.11% | -0.17% | 0.04% | -0.26% | |
| Aud | -0.08% | 0.07% | 0.08% | 0.36% | 0.17% | 0.34% | -0.10% | |
| NZD | -0.37% | -0.12% | -0.15% | 0.09% | -0.04% | -0.34% | -0.35% | |
| CHF | -0.06% | 0.17% | 0.22% | 0.39% | 0.26% | 0.10% | 0.35% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the sterling pound from the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the GBP (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
