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Thanksgiving allows Sterling to maintain strength

24th November 2017 Market Update

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🇬🇧 GBP – The second estimate of GDP came in line with expectations at 0.4% yesterday, and therefore did not have much impact on the exchange rates. Today there is no data being released from the UK.

🇪🇺 EUR – Yesterday manufacturing and services data was released from Europe. The figures all came in above expectations, marginally strengthening the euro. There is no significant data from Europe today.

🇺🇸 USD – Thanksgiving took place yesterday in the US, meaning it was a bank holiday and no US dollar payments were made. This afternoon flash manufacturing and services data is being released, however this will likely have minimal impact on the market.

 

Key Announcements

No key announcements today.

 

Summary: Yesterday was very quiet for US data due to Thanksgiving. The second estimate of the UK’s GDP came in line with expectations at 0.4%. This had no real impact on the market. Today there is no significant data out, meaning it is a very quiet end to the week.

 

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Darren Kilner

Darren Kilner

Darren is Head of Dealing at FairFX. Darren lives and breaths FX, his Mastermind topics are G8 currencies and economic forecasts.

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