UK: CBI Industrial Trends Survey – Orders recovers modestly to -46% in July

• CBI Industrial Trends Survey – Orders came in weaker than expected in July.
• The GBP continues to trade in a mixed manner against its peers.

The Total Order Books component of the CBI’s Industrial Trends Survey improved slightly from -58% in June to -46% in July. This reading came in worse than the market expectation of -38%.

Market reaction

This data doesn’t seem to be having a negative impact on the British pound’s market valuation. As of writing, the GBP/USD pair, which slumped to a daily low of 1.2698, was virtually unchanged on a daily basis at 1.2730. Meanwhile, the EUR/GBP pair was gaining 0.25% at 0.9105.