- CBI Industrial Trends Survey – Orders came in weaker than expected in August.
- British pound remains on the back foot with the GBP/USD extending its daily slide.
The Total Order Books component of the CBI’s Industrial Trends Survey improved slightly from -46% in August to -44% in July. This reading came in worse than the market expectation of -35%. Meanwhile, Selling Prices dropped to -5 from 4 during the same period.
Market reaction
The British pound continued to weaken against its peers after this data. As of writing, the GBP/USD pair was down 0.35% on a daily basis at 1.3165. Moreover, the EUR/GBP pair was virtually flat on the day at 0.8972.
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