United Kingdom Balance of Trade
Since 1998, the United Kingdom's trade balance has been in deficit, owing to deficits in goods trade that are somewhat offset by surpluses in services trade. Since 1986, the amount of total UK products trade as a percentage of total goods and services trade has been gradually dropping after peaking at 75% in 1985. This is associated with the increasing importance of services in UK commerce (35% of total trade in 2017). While Germany, China, the Netherlands, Norway, Belgium & Luxembourg, and Italy had the largest goods deficits in 2017, the United States, Ireland, and South Korea had the largest surpluses in that same period.
A higher than expected figure should be seen as positive (bullish) for the GBP while a lower than expected figure should be seen as negative (bearish) for the GBP.
Forex Sentiment (GBP)
| Symbol | Community Trend (Shorts vs Longs) | Symbol Popularity | Avg. Short Price / Distance From Price | Avg. Long Price / Distance From Price | Current Price | |
|---|---|---|---|---|---|---|
| GBPUSD |
|
|
1.2714 -152 pips |
1.2918 -52 pips |
1.28660 | |
| GBPJPY |
|
|
191.5047 -633 pips |
199.8261 -200 pips |
197.830 | |
| EURGBP |
|
|
0.8444 +79 pips |
0.8511 -146 pips |
0.83651 | |
| GBPCAD |
|
|
1.7480 -59 pips |
1.7620 -81 pips |
1.75394 | |
| GBPCHF |
|
|
1.1348 -20 pips |
1.1499 -131 pips |
1.13680 | |
| GBPNZD |
|
|
2.1318 -529 pips |
2.0922 +925 pips |
2.18470 | |
| GBPAUD |
|
|
1.9289 -101 pips |
1.9263 +127 pips |
1.93898 | |
| GBPNOK |
|
|
14.0901 -864 pips |
13.8731 +3034 pips |
14.17653 | |
| GBPSEK |
|
|
13.6898 -2252 pips |
13.8060 +1090 pips |
13.91500 | |
| GBPSGD |
|
|
1.7140 -125 pips |
1.7392 -127 pips |
1.72650 |
News (GBP)
UK Government Borrowings Overshoot Estimate
The bigger-than-expected UK public sector net borrowing in June highlights the challenges faced by the new government. Public sector net borrowing decreased GBP 3.2 billion from the last year to GBP 14.5 billion in June, marking the lowest June borrowing since 2019. However, the latest figure was GBP 2.9 billion higher than the GBP 11.6 billion forecast by the OBR.
RTTNews | 7 days ago
UK Retail Sales Fall In June
Despite an improvement in consumer sentiment, UK retail sales logged a notable decline in June amid election uncertainty and poor weather, data showed Friday. Retail sales decreased 1.2 percent month-on-month in June, in contrast to the 2.9 percent increase posted in May, the Office for National Statistics said. Sales were expected to log a moderate 0.4 percent fall.
RTTNews | 7 days ago
UK Labor Market Cools In May
UK wage growth softened in the three months to May period suggesting that the labor market cooled further and revived hopes of interest rate cuts. The unemployment rate came in at 4.4 percent in March to May period, unchanged from the preceding three months, the Office for National Statistics said Thursday. The figure matched economists' forecast.
RTTNews | 8 days ago
