Edward Culchenko
According to the latest report published by the Office for National Statistics (ONS), the UK’s external trade data indicated a deficit decline in April.
The actual figures show a decline down to £8.2bn, which is a lot less than March’s figures - £9.2bn. They also failed to come up to analyst expectations - £8.8bn. The major reason for the deficit decline was import reduction by £1.3bn along with export decline by £400 million.
The data indicate that the UK government’s policies have been successful so far. The policies are aimed at expanding trade relations with emerging markets like China, Brazil and India in order to reduce the dependence on the eurozone.
Forex
According to Masterforex-V Academy, the British Pound keeps strengthening against the US Dollar. The experts report that GBPUSD is forming wave А(С)/С of Daily. At this point, the currency pair is retracing from the recent strong upswing.
A break below 1.5487 will give way to 1.5423/16, 1.5345/43. Alternatively, a break above 1.5683 will give way to a further rally up to 1.5697, 1.5762/89.
Edward Culchenko
