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UK GDP Q3 at 8:30 GMT

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_nova
Super Contributor
This will be a FTSE mover...
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5 REPLIES 5
_nova
Super Contributor
UK: growth fell 0.5% q/q in Q3 below median forecast and 1st fall since Q2 1992. Largest decline since Q4 1990. The UK is now officially in a recession. Expect 50bps rate cut in Nov
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_nova
Super Contributor
somewhere in the next hour this will filter through to market pundits who ignore economic data as being 'important'. The fact is this data is going to move the GBP in a big way and eventually the market will skrik when it finally realises how significant this news actually is
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_nova
Super Contributor
hmm, looks like it's filtering faster than normal. Watch the FTSE
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SimonPB
Valued Contributor
nova, it just confirms what everybody knows? UK, EU, US & JP heading for recession. Either way my 'ignore news' system already had me short .
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_nova
Super Contributor
Each to his own system Simon. Mine works for me, your's works for you. Even though everyone knows the news it's still a self fulfilling prophesy, it moved the market, especially FX so why not take advantage of it?
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