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The GBP’s Current Account (CA) is expected to show the largest deficit since 2011 at -12.3B, tomorrow morning.
The Current Account simply shows the difference between imported and exported goods, services, etc., from last quarter.
The release will come at 4:30am EST Thursday from the Office of National Statistics.
Here are the statistics for the Current Account since the early 2000’s. Click on the chart to enlarge it.[/column]
The CA gives a detailed report of how Great Britain’s economy is interacting with other nations. A positive Current Account Balance takes place when importing exceeds exporting. Therefore, the report is important for forecasting long term direction because of it’s indication of economic strength.
Below is a picture of the current GBP/USD short set up. A negative report tomorrow, like economists are calling for, could help with the bearish follow through.
For a full economic calender go here!
Feel free to leave your comments on the current condition of the GBP and the United Kingdom’s economy.
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