Nataly Kambur
The revised GDP report recently published by the Office for National Statistics showed a decline.
While the ONS left unchanged its GDP forecast for Q4 2012 (-0.3%), the annual figures were reconsidered. In particular, analysts didn’t expect a decline in the UK GDP down to 0.2% as they thought the ONS would preserve the previous forecast indicating a 0.3% increase.
Moreover, the UK seems to have faced new problems, including a deficit of capital in the local banking sector. According to the report published the FPC, British bank will need £25bn this year.
According to the British legislation, the committee cannot specify risky banks when evaluating the banking sector. Therefore, the regulator said that some banks will have to emit extra shares while other banks will have to sell out their assets.
Forex.
The chart below, courtesy of , reflects the current state of affairs in the market of GBPUSD. The currency pair is recovering after a prolonged bearish move. However, it is too early to consider a reversal.
A break below 1.4831 will give way to 1.4823, 1.4655. At the same time, the current bearish trend will be completed as soon as the price overcomes the top of the MF sloping channel and consolidates above 1.5260 (as shown below).
Nataly Kambur
