UK GDP Data Stay in Focus of the Markets

Forex News

Markets are expecting data on the UK GDP for the third quarter. It is expected, that the indicator will remain at the previous level of 1.5%. Earlier, the Office for Budget Responsibility of the UK worsened the forecasts of the growth of the British economy for the coming years.

The UK Chancellor of the Exchequer Philip Hammond said that according to updated forecasts, the country's GDP will grow by 1.5% this year, and not by 2%, as expected in the March forecast. The forecast for 2018 was reduced from 1.6% to 1.4%, and for 2019 from 1.7% to 1.3%.

It is expected, that the European stock markets will open slightly lower today, while DAX will continue to decline amid political uncertainty in Germany. Data on manufacturing and services PMIs from the Eurozone, Germany and France, as well as the minutes of the last ECB meeting will be published today.