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  • UK CBI Manufacturing Order Book Balance climbed to best level in nearly two years.
  • GBP/USD pair continues to trade deep in the negative territory around 1.3770.

The data from the UK showed on Friday that the CBI’s Manufacturing Order Book Balance improved sharply to its highest level since April 2019 at -5 in March from -24 in February. This reading beat the market expectation of -20 by a wide margin.

Further details of the publication revealed that the  Manufacturing Output Expectations Balance jumped to its strongest level since August 2017 at 30 from -2 in February.  

Market reaction

These strong figures don’t seem to be helping the British pound find demand. As of writing, the GBP/USD pair was down 0.67% on a daily basis at 1.3769.