Trade Desk Thoughts - U.K. Trade Balance

U.K. Trade Balance Actual -8.2B, Expected -7.6B, Previous -8.2B (Revised from -7.7B)

Release Explanation: It measures the country's exports minus its imports; the largest component of a country's balance of payments. An increase or decrease in the Trade Balance will help determine the future economic outlook and growth numbers in a region. It can impact all aspects of an economy as it is the way that region balances its books.

Trade Desk Thoughts: The U.K. deficit widened in August to -8.2B, larger than market expectations of 7.6B. The previous number was also revised higher, from -7.7B to -8.2B. The UK's deficit on trade in goods and services was £4.7 billion in August, compared with the revised deficit of £4.8 billion in July. The surplus for trade in services was £3.5 billion, the same as in July.

Forex Technical Reaction: The pound has gained 60 pips during the European session, after falling more than 100 pips during the Asian session.

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