Blog


Upbeat UK data this morning

This morning we had the UK manufacturing and industrial production data released and both beat estimates.

The GBP/USD pair maintained its offered tone for the second consecutive session, albeit managed to bounce off few pips from lows after mixed UK releases.

The pair managed to recover around 15-20 pips from the 1.3500 neighbourhood and was being supported by the UK data that showed manufacturing production growth stood at 0.4% for November, better-than 0.1% recorded in the previous month and 0.3% expected.

Meanwhile, the overall industrial output also bettered expectations and posted m-o-m growth of 0.4%, with the yearly growth at 3.5% as against 2.8% expected.

The positive manufacturing data, to some extent, was negated by the UK goods trade balance data, which came in to show a larger-than-expected deficit of £12.23 billion for November (£10.70 billion expected) and did little to improve the already weaker sentiment, led by the UK political headwinds, surrounding the British Pound.

It’s a quiet day for the EUR today, with no data scheduled for release out of the Eurozone.

The markets will be looking ahead to the ECB monetary policy meeting minutes that are scheduled for release tomorrow, though for now, it’s all for the Dollar to lose.

Leave a Reply

Your email address will not be published. Required fields are marked *

What's Going On?

Currencies 4 You Ltd is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House Victory Way Admirals Park, Crossway, Dartford, Kent, DA2 6QD. Currencies 4 You Ltd Payment and Foreign Currency Exchange Services are provided by Currency Cloud Limited, Equals Connect Limited and Ebury Partners UK Limited. Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money. FCA registration number: 900199. Payment Services are provided by Equals Connect Limited, registered in England and Wales (registered no. 07131446). Registered Office: Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Connect Limited are authorised by the Financial Conduct Authority to provide payment services (FRN: 671508). Currencies 4 You Ltd is partnered with Ebury Partners UK Limited as its Programme Mananger. Ebury Partners UK Limited are authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution. (Reference Number 900797). Ebury Partners UK Ltd is registered with the information commissioners office with registration number: ZA345828. | Terms and Conditions | Privacy Statement | Careers