• About
  • Advertise
  • Contact Us
  • Our Writers

Forex News

  • Menu
  • Analysis
  • Currencies
  • Data
  • Other Forex
 Home > Other Forex > Positve UK data enabled the pound to reverse losses against the aussie yesterday

Positve UK data enabled the pound to reverse losses against the aussie yesterday

Other Forex

The pound reversed recent losses to gain 0.75% on the aussie yesterday in the wake of some positive economic data, which spurred investor demand.

  • A GDP revision showed that British output contracted 0.6% in the second quarter compared with activity in the first three months of 2009, better than the previous estimate of -0.7%, according to the Office for National Statistics
  • This data was supported by higher realised sales and an increase in net lending to individuals, which, together, underlined hopes that the UK should pull out of recession in the 3 rd quarter.
  • The positive market reaction enabled the pound to distance itself from long-term lows hit recently against the aussie, though an increasing UK current account deficit may weigh on sterling’s recovery.
  • In trading this morning, the Australian dollar has rebounded, already up 0.4% on the day, following better-than-expected month on month retail sales, which add to the case for a rise in interest rates as early as November.

Tweet
Pin It

Related Posts

The euro lost ground to the dollar on Friday as the rally in equities came to a halt

Sterling under selling pressure as the market prices in an increase to QE

How to Score the Most Forex Complementary Services

About The Author

tusharm


    TOPICS

    • Analysis
    • News
    • Other Forex
    • Trading

    Recent Posts

    • Ontega review: a legit forex broker in Africa
    • Who is the best at predicting the UK economy?
    • Introduction To Forex Trading
    • The Certain Uncertainties of Brexit in the Financial Markets
    • Learning to Trade CFDs: Techniques for the Novice CFD Trader
    • Investment Agency Rating Pushes Polish Zloty Up
    • Canadian Dollar Near 2-Month High on Oil
    • Unexpectedly Negative Payrolls Force Greenback Down
    • Norwegian Krone Falls From 16-Month High
    • Unchanged Rates and Bond Purchases Maintain Pound Down

    Tags

    Asset Purchase Assets Australian Dollar Bank Of England Boe Confidence Currencies Currency Decline Dollar Economic Data Economic Recovery Economy Employment Data Euro Euro Dollar Euro Zone Eurozone Federal Reserve Gdp Greenback Interest Rates Investors Kiwi Kiwi Dollar Losses Lows Market Expectations Monetary Policy New Zealand Dollar Qe Quantitative Easing Rally Recession Risk Appetite Risk Aversion Rose Sentiment Single Currency Speculation Sterling Two Cents Uk Currency Uk Economy Us Currency

    Other Sites

    • Everything Finance
    • Small Business Resource
    • Talking About Green
    • Invest In India
    • Miss Wallstreet

    Archives

    • September 2018
    • February 2018
    • August 2016
    • June 2016
    • October 2015
    • January 2010
    • December 2009
    • November 2009
    • October 2009
    • September 2009
    • August 2009
    • June 2009
    • May 2009
    • April 2009

    Finance Websites

    • Earn More And Save
    • Finance TUBE
    • Everything Finance
    • Green Finance
    • Invest In India
    • Small Business Resource
    • Start Investing Money
    • Minimalist Finance
Forex News Copyright © 2022.