May 12, 2021 05:41 GMTFXStreet News
Wednesday’s preliminary reading of the first-quarter (Q1) 2021 UK GDP numbers, up for publishing at 06:00 GMT, becomes the key for GBP/USD traders amid fears of losing economic momentum as well as the Bank of England’s (BOE) hawkish stint.
Market consensus suggests the Office for National Statistics (ONS) print downbeat QoQ figures of -1.6% versus +1.3% prior whereas the YoY data may have improved from -7.3% to -6.1%, per the forecasts.
In addition to the quarterly GDP, March’s monthly growth figures will accompany Trade Balance and Industrial Production details for the stated period to keep the GBP/USD traders busy ahead of the key US Consumer Price Index (CPI) figures.
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