UK: Goods trade deficit narrows slightly more than expected in December

UK Trade deficit narrowed to £8.897 billion in December from £9.275 billion in November, according to data released today by National Statistics. Analysts expected the deficit to narrow only to £8.930 billion.

Total trade deficit narrowed to £3.200 billion, from £3.577 billion, as expected. Trade deficit non-EU narrowed to £4.230 billion from £4.618B billion, slightly more than market consensus of narrowing only to £4.250 billion.

Feb 7, 2013

Forex Flash: Key day for Europe with central bank meets – BTMU

Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ notes that it is a key day in Europe, with both the BOE and ECB announcing monetary policy decisions.

Forex Flash: Negative bias reiterated on GBP – UBS

According to Research Analyst Gareth Berry at UBS, “We maintain a negative bias on sterling heading into Carney's Treasury Select Committee testimony and final appointment as BoE Governor. The rationale relating to more aggressive policy needs no repeating, and it is apt to draw comparisons with the Bank of Japan, where a change in government and central bank expectations have resulted in a significant decline in the currencies”