Mixed data from the UK: manufacturing production has risen by 0.7% in November, while industrial output fell 0.1%. Construction output is down 2%. The trade balance deficit came out smaller, better than expected with a deficit of 8.8 billion.
GBP/USD ticks down after rising beforehand. For now, the pair bottomed out at 1.5032.
Recent purchasing managers’ indices have disappointed, and this includes the manufacturing sector. The sector is still experiencing growth, but it is at a slower pace. However, we have here some figures which are OK.
UK manufacturing production was expected to rise 0.4% m/m, industrial output +0.2% and construction output carried predictions for a rise of 1.3% in the month of November. The trade balance deficit was expected to stand at 9.5 billion, similar to the previous month.
GBP/USD was on the rise towards the publication, reaching 1.5145.
More: GBP/USD: Selling Overdone; Buy On Further Dips – ANZ
The focus now shifts to the US Non-Farm Payrolls.
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