Between Quarter 2 2016 and Quarter 3 2016, the trade in services surplus widened by £0.2 billion to £22.2 billion, as exports decreased by £0.1 billion and imports decreased by £0.3 billion. The UK’s deficit on trade in goods and services was estimated to have been £5.2 billion in September 2016, a widening of £1.5 billion from August 2016. Exports decreased by £0.2 billion and imports increased by £1.2 billion.
The deficit on trade in goods was £12.7 billion in September 2016, widening by £1.6 billion from August 2016. This widening reflected a decrease in exports of £0.2 billion to £26.1 billion and an increase in imports of £1.3 billion to a record £38.8 billion. There were increases in imports of ships, material manufactures, road vehicles and oil.
Sterling is currently being traded around 1.2440 level. Pair is likely to find support around 1.24 handle and resistance above 1.25 area.
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