Manufacturing production rose by 1.2% in May. A rise of 0.1% was expected after last month’s drop of 0.7%, now revised to -0.8%. The wider industrial production figure rose by 1%, far better than a drop of 0.1% that was predicted. Britain’s trade balance deficit squeezed to 8.4 billion pounds in May from the peak of 10.1 billion initial reported beforehand. This was now revised to -9.7 billion. A drop to 9 billion was expected. GBP/USD managed to recapture the 1.55 line before the publication and continues pushing higher, to 1.5540 at the time of writing. Earlier in the day, figures weren’t so rosy: the BRC Retail Sales Monitor showed a monthly rise of 1.4%, but on an annual level, it’s flat. In addition, the RICS House Price Balance disappointed by dropping lower in negative ground: from -17% to -22%, worse than an improvement to -15% that was expected. For more on the pound, see the GBP/USD forecast. It’s important to note that against the euro, sterling finds itself in levels last seen at the height of the financial crisis: EUR/GBP is at 0.7925, a level recorded in November 2008. 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. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next What Can Forex Traders Learn from Mitt Romney’s Positions? Yohay Elam 10 years Manufacturing production rose by 1.2% in May. A rise of 0.1% was expected after last month's drop of 0.7%, now revised to -0.8%. The wider industrial production figure rose by 1%, far better than a drop of 0.1% that was predicted. Britain's trade balance deficit squeezed to 8.4 billion pounds in May from the peak of 10.1 billion initial reported beforehand. This was now revised to -9.7 billion. A drop to 9 billion was expected. GBP/USD managed to recapture the 1.55 line before the publication and continues pushing higher, to 1.5540 at the time of writing. Earlier in the day,… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
