GBP weakened on Thursday as the US economy rebounded from its highest since July 17 against USD amid a slump in economic data by the British economy on Thursday and following economic developments and data on the US economy, the world’s largest economy.

At 4:35 pm GMT, the GBP USD pair dropped 0.47% to 1.3127 compared to the opening levels at 1.3189 after the pair hit a session low of 1.3113, while its highest in more than a week at 1.3213 .

US durable goods sales, which account for almost half of consumer spending, representing more than two-thirds of US GDP, rose 1.0% from 0.4% in May, below expectations of a 3.0% rise. The core reading of the index itself showed a 0.4% rise against stability at zero levels, also below expectations of a 0.5% rise.

GBP USD

The trade balance, which showed a widening deficit to $ 68.3 billion against $ 64.8 billion in May, was worse than the $ 67.0 billion deficit. Compared to a 0.6% rise in May, below expectations for a slowdown in growth to 0.5%.

In the same context, we also followed the weekly reading of the index of requests for assistance, which showed a rise of 9 thousand applications to 217 thousand applications compared to 207 thousand applications, exceeding expectations at 215 thousand applications, while the reading of the requests for continuing assistance for the week of July 14 Down 8K to 1,743K versus 1,753K, higher than expected at 1,733K.