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UK Manufacturing Production +0.2% as expected

No surprises in the headline number: UK  manufacturing production is up 0.2% m/m and +0.5% y/y. Industrial  output disappoints with -0.4% m/m and only +1.5% y/y.

GBP/USD is battling 1.56 ahead of bigger news ahead in the day.

The UK was expected to report a gain of 0.2% in manufacturing output after a fall of 0.6% in the previous month. The wider industrial production carried expectations for +0.1% after a rise of 0.4% beforehand.

GBP/USD traded above 1.56 towards the publication.

This is big day for the pound, with this data serving only as a warmup.  The “Super Thursday”  includes not only the rate decision (which has become a non-event) but also the meeting minutes.

Did  two members vote for a hike this time? That’s what markets are expecting.

In addition, the quarterly inflation report  will also be released and the day’s events will culminate with  a press conference by Governor Mark Carney.

More:  GBPUSD: Risk Points Lower On Correction

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.