UK's GDP Expectations - 1.8% for 2016



Expectations for a growth in UK's economy for the remaining of the year are 1.8%, lower than the previous standings of 2,2%. For 2017, a rise of just 1%, revised from 2.3%.

These are much worse data for the UK economy but at least analysts believe the country will avoid a recession. Negotiations with the ECB for trade relations between the UK and the EU are becoming increasingly important and can be deepened in the future. Brexit Ministry  and its members can start seriously negotiating with the European Union on this important issue which is crucial for  economic development. British pound may continue to fall but it will this will be positive for the country's exports and for companies that operate in that sphere.
For now we remain short on GBP / USD, as fundamentally GBP is under pressure because of uncertainties on these important topics and also because  USD showed resistance. The chances of an increase in US interest rates this mounth are low, so caution is advised.


 Varchev Traders

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