UK FISCAL: ONS notes error in public finance data
Oct-08 06:11
- "We have been informed by HM Revenue and Customs that there was an error in the Value Added Tax (VAT) receipts data supplied to ONS and included in our Public Sector Finances release published on 19 September 2025."
- "The error affects our headline series public sector current budget deficit and public sector net borrowing, for the period January 2025 to August 2025. No earlier time periods are affected."
- "Correcting for the error reduces public sector net borrowing by between £200 million and £500 million per month within the period affected, resulting in a reduction in borrowing of £1 billion for the financial year ending March 2025, and a reduction of £2 billion for the financial year to date (April to August 2025)."
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GILT TECHS: (Z5) Corrective Rally Extends
Sep-08 06:09
- RES 4: 92.06 High Aug 14
- RES 3: 92.00 Round number resistance
- RES 2: 91.45 High Aug 15
- RES 1: 91.32 High Sep 5
- PRICE: 91.23 @ Close Sep 5
- SUP 1: 90.31/89.36 Low Sep 4 / 3
- SUP 2: 89.22 1.618 proj of the Aug 21 - 27 - 28 price swing
- SUP 3: 89.00 Round number support
- SUP 4: 88.84 2.00 proj of the Aug 21 - 27 - 28 price swing
A strong rally in Gilt futures last week highlights a stronger corrective cycle. Note that a move higher is allowing an oversold trend condition to unwind. The contract has breached initial firm resistance at 90.84, the Aug 28 and 29 high. A continuation higher would open 92.06, the Aug 14 high. For bears, a reversal lower and a resumption of the bear leg would signal scope for a move towards 89.22 next, a Fibonacci projection.
MNI: GERMANY JUL EXPORTS -0.6% M/M; IMPORTS -0.1% M/M
Sep-08 06:00
- MNI: GERMANY JUL EXPORTS -0.6% M/M; IMPORTS -0.1% M/M
- GERMANY JUL TRADE BALANCE EUR +14.7 BLN
MNI: GERMANY JUL IND PROD +1.3% M/M
Sep-08 06:00
- MNI: GERMANY JUL IND PROD +1.3% M/M
