GDP Data Preview + Potential Pound-Euro Exchange Rate Targets
UK GDP release takes on more importance for Sterling than normal
- Key to determining whether UK interest rates will rise in May
- A mildly disappointing print of 0.2% could see GBP/EUR fall at support at 1.1434
Economic growth data may prove market-moving for the British Pound ahead of the weekend as it will cement expectations as to whether or not a May interest rate rise is on.
The most significant release for the Pound as the week draws to a close is UK GDP for the first quarter of 2018, out Friday, April 27 at 09.30 B.S.T.
Whilst GDP growth is always an important indicator for Pound Sterling, today's figures may draw even more attention than usual owing to increasing doubts about whether the Bank Of England (BOE) will, in fact, go ahead and raise interest rates at its May meeting or not.
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