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UK Data surprisingly better than expectations

The pound recouped some of yesterday’s losses this morning as the Manufacturing and Industrial data came in slightly stronger than expectations this morning.

Surprisingly the industrial data increased at its fastest pace over the last month also the trade balance data came in stronger.

However, there was a big downturn with the data from the construction sector.

The Figures for the services sector are due to be released on Nov. 23, services sector makes up for a large majority of the UK Economy.

There was a sharp improvement in the goods trade deficit with non-European Union countries, which narrowed to 2.982 billion pounds – the smallest since May.

Brexit negotiations continues yesterday afternoon. We expect to see more pound volatility as negotiations have not been smooth thus far.

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