The EUR/GBP cross weakens near 0.8565 on Thursday during the early European session on Thursday.
EUR/GBP edges lower to around 0.8565 in Thursday’s early European session. UK preliminary GDP expanded 0.6% QoQ in Q2 vs. 0.6% expected. The ECB is anticipated to cut more through the end of next year. The UK GDP growth figures were in line with the consensus, which has boosted the Pound Sterling against the Euro . The attention will shift to the UK Retail Sales report on Friday, which is projected to increase by 0.5% MoM in July.
GDP FAQs What is GDP and how is it recorded? A country’s Gross Domestic Product measures the rate of growth of its economy over a given period of time, usually a quarter. The most reliable figures are those that compare GDP to the previous quarter e.g Q2 of 2023 vs Q1 of 2023, or to the same period in the previous year, e.g Q2 of 2023 vs Q2 of 2022. Annualized quarterly GDP figures extrapolate the growth rate of the quarter as if it were constant for the rest of the year.
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