Mixed data from the UK: the trade balance deficit came out worse than expected at 10.186 billion, but industrial output rose by 0.5%, better than expected. Manufacturing production came out bang on expectations with +0.3%.
This leaves the pound to continue suffering the fears of the Scottish referendum. Update: after some initial wobbling, cable is falling again.
Year over year, industrial output rose by 1.7%, beating expectations of 1.3%. Manufacturing rose 2.2% y/y, better than 1.9% predicted.
The UK was expected to report a rise of 0.3% in manufacturing production in July and a rise of 0.2% in the wider industrial output number. A trade deficit of 9.1 billion was predicted for that month.
Before the publication, GBP/USD managed to stage a small recovery after the huge downfall and traded around 1.6110.
The pound was severely hit by the latest polls regarding the Scottish referendum, which basically show the event is too close to call. The chance of a breakup of the United Kingdom looms over the pound.
Mark Carney will speak later on, at 10:45 GMT and could rock the pound as well.
For more, see the GBPUSD forecast.
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