19 Jul 2013
Flash: UK GDP on the horizon – Societe Generale
FXstreet.com (London) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, suggested that the retail sales set the scene for next week’s GDP data.
Key Quotes:
“UK retail sales volumes rose 0.9% in Q2. Given what a big share of GDP consumer spending makes up, which should lead to a decent gain when GDP data are released next week”.
“Of late GDP doesn’t correlate much with anything”.
“…forecasts a 0.6% quarterly growth number, highlighting the UK/Euro Zone divergence”.
“EUR/GBP really is too high, and not just because we all want more Euros on holiday”.
“GBP/CHF is even more annoying but maybe long GBP/JPY is a practical way to trade data and politics”.
Key Quotes:
“UK retail sales volumes rose 0.9% in Q2. Given what a big share of GDP consumer spending makes up, which should lead to a decent gain when GDP data are released next week”.
“Of late GDP doesn’t correlate much with anything”.
“…forecasts a 0.6% quarterly growth number, highlighting the UK/Euro Zone divergence”.
“EUR/GBP really is too high, and not just because we all want more Euros on holiday”.
“GBP/CHF is even more annoying but maybe long GBP/JPY is a practical way to trade data and politics”.