Wednesday, 25 April 2012

UK is officially in Technical Recession

Dear all,

Its official peeps, the latest GDP for UK COMES IN AT -0.2% MtM VS 0.1% MtM EXPECTED. 0.0% for YtY. Which means that now UK is officially in technical recession.

As i have wrote in the article 2 days ago regarding on the pound, it seems like this official data will dampen all the cable bulls out there. As i stated in that article, sentiment is at the extreme end, so caution is needed. Now we shall see how the cable perform till the next event risk coming up later; FOMC decision and statement by FED chairman.

Cheers,

Renomic

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