Forex Trading News: Key UK Data Released Giving the GBP a Boost
Posted by Mr. Danish FX on Mon, 05/12/2008 - 4:34am in
The Producer Price Index (PPI) comes out at 2.4% from the previous 1.8%. 1.8% was forecast for this release as well.
The Trade Balance number comes out at -7.4B from the previous -7.5B. This was forecast at -7.5% once again.
The PPI Output comes out at 1.4% from the previous 0.9%. A drop to 0.6% was forecast.
As both PPI figures came out better than expected and trade balance was pretty much on par, the GBP was able to make some strong initial gains.
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