On the day the latest trade talks between the US and China actually begin, the UK markets have a data-distraction to tide them over this morning.
After a better than forecast reading for July, August’s monthly GDP reading is set to act as a reminder, if it was needed, that the UK economy is struggling with the uncertainties of pre-Brexit. Analysts are expecting a dreary 0.0% reading, a sharp comedown from the previous 0.3% – let’s just hope it doesn’t turn negative.
There’s likely little joy to be found in the manufacturing and industrial production figures either. The former is estimated to fall from 0.3% to 0.1% month-on-month, with the latter set to suffer a similar slide from 0.1% to 0.0%.
Ahead of this the pound pushed 0.1% higher against the dollar, straining to keep off its recent 5-week lows, but shed another 0.2% against the euro, leaving it at its worst price since September 5th.
The FTSE, meanwhile, added a handful of points as it remained short of 7200.
The session’s UK data might not come to mean much, however, dependent on what kind of news leaks out of the impending meeting between Boris Johnson and Irish Taoiseach Leo Varadkar, the pair seeking to find a compromise on the issue of the Irish border after talks collapsed with the EU.
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