UK Economic Growth disappoints in Q1
The UK economy maintained its slow pace of growth in the 1st quarter. Although the figure came in as the general consensus, market participants were hoping for a positive surprise. The annual growth rate was revised marginally lower.
GDP Final q/q was 0.5% in Q1, as expected and unrevised from Q4 2010. GDP final y/y was revised downwards to 1.6% from 1.8% versus consensus for 1.8%.
GBP/USD dropped to 1.5934 from 1.5985 prior to the UK growth data. EUR/GBP jumped to 0.8962 from 0.8949 but fell back to 0.8951.
RTFX Ltd (“RTFX”) is licensed to conduct investment services business by the Malta Financial Services Authority. This information does not constitute an offer or solicitation and is provided for information purposes only. This information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of RTFX at the time of preparation. They are thus subject to change without notice. RTFX believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by RTFX and no liability in respect of any errors or omissions, including any third party liability, are accepted by RTFX or any director, officer or employee.
