U.K. Economy Contracts In Fourth Quarter

andres del risco

Revised U.K. GDP data for the fourth quarter has confirmed that the British economy contracted more than previously thought. Meanwhile, market speculation of additional stimulus to the UK economy and encouraging signs from Germany and France has supported gains in the Euro against the Pound this morning.

However Eurozone contagion fears persist with Spanish debt issues gaining prominence. Across the Atlantic, market speculation of further easing continues with Bernanke reiterating his dovish stance. Against this backdrop US durable goods orders data due later today are likely to be very closely watched.

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U.K. Economy Contracts In Fourth Quarter

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