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UK Trade Balance deficit at £10.3 billion in January

Friday, Mar 11 2016
The UK’s deficit on trade in goods and services was estimated to have been £3.5 billion in January 2016, a narrowing of £0.2 billion from December 2015. The narrowing is attributed to trade in goods where the deficit has narrowed from £10.5 billion in December 2015, to £10.3 billion in January 2016. This was in line with market forecasts.
The narrowing of the trade in goods deficit between December 2015 and January 2016 reflected a decrease in imports of £0.2 billion to £33.2 billion attributed to falls in unspecified goods and fuels. However, excluding oil and erratics the trade in goods deficit widened by £0.5 billion between December 2015 and January 2016
 
Sterling is currently being traded few points above 1.4280 level. Pair is likely to find support around 1.42 handle and resistance above 1.4350 level. There will be no major data releases later today.
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