DislikedIf Christmas comes early......... All eyes fall on US CPI and FOMC and to a slightly lesser extent BoE rate hike decision amongst a slew of data. Winter holiday season starts from this weekend.{image} The market remains confident that the Fed will raise US interest rates by 50bps on Wednesday and (barring a huge surprise within the CPI figure on Tuesday), a ‘downshift’ from 75bps of previous months. UK economy expands more than expected, recession looms{image}Ignored
1. What is happenning ?
The UK’s GDP grew by 0.5% from Sep’22 to Oct’22
As a reminder, GDP is a measure of the size and health of a country’s economy
Two consecutive quarters of negative GDP growth generally indicate a recession
So, why did UK GDP grow in Oct?
Well, the main reason was because GDP fell by 0.6% in September
The fall was driven by lower economic output due to the additional bank holiday & national mourning (remember The Queen ?)
This made it a lot easier for GDP in October to be higher than it was in September.
Thus do be mislead by the data. Understand the data saying....
Don’t be taken in by this latest GDP growth figure
The UK’s economic outlook remains bleak
cont/-
I come from the future.
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12
Never had thought about it but been observing and donīt ask me why but it tends to happen
We have a Demand Zone here at around 1.21878 so maybe price is reacting to it to push higher
