Fundamental Analysis




Fundamental Analysis

GBP/USD: Manufacturing Production
Mon, 11 Sep 2017 04:59:26 GMT
Source: Dukascopy Bank SA
 

The GBP/USD currency pair showed modest reaction on the UK economic releases on Friday, as the reports revealed mixed results for July. However, a small impact from British macroeconomic data as well as the weakening US Dollar were not interfering the Sterling to extend gains by the mid-Friday session, where after post-data drop of 0.04% the British Pound rose to the highest level in five weeks to start trading in the 1.318-1.321 area.  

The Office for National Statistics stated that the UK manufacturing output increased 0.5% over the month of July, showing the strongest gain this year. Coming along with weaker construction output, data suggested the UK economy to expand at a modest pace in the Q3.

Historical Data Table: Manufacturing Production m/m
           
Date 11.05.2017 09.06.2017 07.07.2017  10.08.2017  08.09.2017 
Actual -0.60% 0.20% -0.20% 0.00% 0.50%
Forecast -0.20% 0.80% 0.50% 0.00% 0.30%
           
Initial Reaction on Main Pairs
           
  Open Price Close Price % Change
GBP/USD 1.31433 1.31377 -0.04%
EUR/GBP 0.91688 0.91707 0.02%
GBP/CAD 1.59004 1.59073 0.04%
GBP/JPY 141.47 141.456 -0.01%

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