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UK GDP growth expected to shape economic outlook

UK GDP growth expected to shape economic outlook

The Office for National Statistics releases the United Kingdom's Gross Domestic Product today, for the three-month period that ended in August. Analysts predict a possible change from the earlier figure of 0.6%, reflecting the value of all goods and services produced in the UK over the last three months compared to the previous similar period.

This could mean of course that GDP growth is in trend and probably even better than estimated and indicates favorable prospects when it comes to economic performance along with the UK economy. This may be beneficial for the pound and may cause further rise in the pound amounts as investors feel more bullish about the UKs economy.

Conversely, if it fell short of forecasts for the actual rate of growth or declined, then that would hint at slowed economic activity. This would set off concerns about weaker economic performance and could well push the pound lower, as markets reassess expectations from the UK economy.

These GDP data are likely to influence market sentiment and, perhaps, investment decisions and currency movements. Precisely how this will play out depends on how actual figures come in compared to market forecasts and general economic conditions.


Fed Vice Chair Barr's Speech May Offer Clues on Future Monetary Policy

Vice Chair for Supervision Michael Barr at the Federal Reserve System is scheduled to deliver a keynote speech today that could define the future of financial regulation. That is when he will point out changes being proposed in regulatory frameworks that may change the way banks manage risk and capital. These changes might affect market stability and could even force financial institutions to rethink their strategies of investments. Analysts believe that the plans of Barr would create a ripple effect on the availability of credit and economic growth, though the result is not predictable. No doubt, the wider implications for the economy will be closely monitored by policymakers and investors, both avid to have an assessment thereof.

BoC Governor Macklem’s Speech May Impact CAD and Economic Outlook

Today at 12:10 GMT, Bank of Canada Governor Tiff Macklem is expected to speak and reveal the future directions of the country’s monetary policy. Most market participants and analysts will be keen to listen to what Macklem has to say for clues of likely changes in the interest rates or even future monetary policy shifts. If his rhetoric is about possible near-term changes in the monetary policy, it may affect the value of the Canadian dollar in the short term. In case Macklem wants to focus on the better availability of jobs and a stronger labor market, it could lead to improving the quotes of CAD.

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