United Kingdom Does Not Release Data, The GBP/USD Sideways

The pound sterling was not moving too much against the u.s. dollar on Thursday (25/06) this afternoon with still hovering near a one-week low levels with investors keeping an eye on the release of US data on personal spending and the penganguran claim to identify the further development of the u.s. economy. GBP/USD touching numbers 1.5677 during the trading session in the morning, the European level is low. The pair subsequently consolidated at 1.5696.

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U.s. Economic Data

The u.s. dollar is getting support after the US Department of Commerce on Wednesday night last announced that U.S. GDP go back terkontraksi to a level of 0.2 percent in the three months that ended in March, in line with expectations and lower than the previous estimate of a contraction of 0.7 percent in the. (Read also: GDP Minus the U.S., investors remain optimistic)

But apart from that, the decrease was recorded also some significant increases of the consumption of home appliances that are sticking up 2.1 percent from the previous level at the rate of 1.8 percent. It was revealed that the level of Community expenditure outside the sectors of food and fuel successfully increased. This is coupled with a rise in the service sector, especially in the field of transport and health.

Thus, economists believe that the U.S. GDP decline this time will not be too much of a bad influence. JP Morgan Chase economist Michael Feroli, says, "now we have menyakini that indeed we have experienced in the first quarter was simply a correction for a moment before consumption going back uphill in subsequent periods".

Greece Debt

United Kingdom did not release its own economic reports today. The fundamental effect again is the debt of Greece. The meeting held yesterday has not yet led to an agreement. The new reform proposals Greece even denied. A night later, The Troika will again roll out meetings in Brussels, and expected, the deal would be reached. EUR/GBP 0.7129 positions.