According to the latest Office for National Statistics data, the UK economy expanded by 0.2% in January, but contracted by 0.1% in the three-month period to January 2024. UKis treading water after two days of losses. Cable hit a multi-month high of 1.2894 last Friday before turning lower this week, but losses remain limited with first support seen around the 1.2742 area. For the pair to push ahead, last Friday’s high will need to be reclaimed but this looks unlikely at the moment with trade expected to remain on either side of 1.2800 in the short-term.IG Retail data shows 41.74% of traders are net-long with the ratio of traders short to long at 1.40 to 1.The number of traders net-long is 6.03% higher than yesterday and 1.30% lower than last week, while the number of traders net-short is 8.33% lower than yesterday and 1.22% lower than last week.The recent FTSE 100 rally has stalled in early trade today, unable to break through an area of multi-month prior resistance
According to the latest Office for National Statistics data, the UK economy expanded by 0.2% in January, but contracted by 0.1% in the three-month period to January 2024. UKis treading water after two days of losses. Cable hit a multi-month high of 1.2894 last Friday before turning lower this week, but losses remain limited with first support seen around the 1.2742 area.
For the pair to push ahead, last Friday’s high will need to be reclaimed but this looks unlikely at the moment with trade expected to remain on either side of 1.2800 in the short-term.IG Retail data shows 41.74% of traders are net-long with the ratio of traders short to long at 1.40 to 1.The number of traders net-long is 6.03% higher than yesterday and 1.30% lower than last week, while the number of traders net-short is 8.33% lower than yesterday and 1.22% lower than last week.The recent FTSE 100 rally has stalled in early trade today, unable to break through an area of multi-month prior resistanc
UK Economy Expansion Contraction Statistics Trade Support Resistance Traders FTSE 100
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK car production increases 21% year-on-year in JanuaryThe UK car industry had its most productive month since January 2021 in January
Read more »
The Austin Chronic – New to the Texas Medical Market: RSO Products and Delicious ChocolateTexas Original expands with full-spectrum edibles
Read more »
American Express debuts largest-ever Centurion Lounge in AtlantaThe concept's footprint expands as luxury's travel craze continues.
Read more »
NHL, Caesars Renew Sports Betting, Gaming PartnershipMulti-year extension between sports league, gaming giant expands on deal first agreed upon in 2019.
Read more »
UK CPI Preview: Inflation expected to rise 4.2% in January, though lower than the month beforePound Sterling traders keenly await the release of the high-impact Consumer Price Index (CPI) data from the United Kingdom (UK) on Wednesday, for fresh hints on the timing of the Bank of England’s (BoE) first interest rate cuts this year, as the BoE policymakers continue to push back against expectations of early rate cuts.
Read more »
PCE inflation for January: Dow drifts lower as stocks trim gains seen after key dataFull coverage of the PCE price report and its impact on financial markets.
Read more »