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GBP/USD Daily Forecast – 30 October

Friday, Oct 27 2017
GBP/USD Daily Forecast – 30 October

There were no major data releases from the UK on Friday. Billions of euros of British taxpayers' money could remain locked into an EU bank for more than thirty years after Brexit, the UK has been warned. Alexander Stubb, vice president of the European Investment Bank - in which the UK is a 16% shareholder - said it would not be fully repaid until 2054. He described Brexit as a "travesty" but denied the move was a punishment. "The EIB has leveraged the economy of the UK many, many fold over the years," he told BBC Radio 4's Today.

In the U.S. session GDP data was published. Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the third quarter of 2017, according to the "advance" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.1 percent. The Bureau emphasized that the third-quarter advance estimate released today is based on source dana that are incomplete or subject to further revision by the source agency. The "second" estimate for the third quarter, based on more complete data, will be released on November 29, 2017.

 

There will be no major data releases both from the UK and USA on Monday so we expect a bit steadier session.

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