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The stronger-than-anticipated report on the UK manufacturing production resulted in a modest increase of the British Pound. The GBP/USD exchange rate added 6 base points and moved higher to be seen trading near the weekly high of 1.3221. However, the pair returned to the 1.320 area to reveal a narrow-range side move on early Monday.
The Office for National Statistics said that the UK manufacturing and industrial output both rose 0.7% over the course of September, where each sector revealed the fastest growth pace since last year's December. However, a sharp decrease in construction and lingering squeeze on British households' incomes indicated that the UK economy would face difficulties as Brexit approaches.
| Historical Data Table: UK Manufacturing Production m/m | Economic Calendar for 13.11.2017 | ||||||||
| Date | 07.07.2017 | 10.08.2017 | 08.09.2017 | 10.10.2017 | 10.11.2017 | 9:00 AM | ECB Vitor Constancio speech | ||
| Actual | -0.20% | 0.00% | 0.50% | 0.40% | 0.70% | 5:45 PM | BoJ Governor Kuroda Speech | ||
| Forecast | 0.50% | 0.00% | 0.30% | 0.20% | 0.30% | 7:00 PM | US Federal Budget Balance | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 1.31474 | 1.31529 | 0.04% | GBP/USD | 55.65% | 44.35% | |||
| EUR/GBP | 0.88579 | 0.88659 | 0.09% | EUR/GBP | 29.49% | 70.51% | |||
| GBP/CAD | 1.66665 | 1.66681 | 0.01% | GBP/CAD | 49.98% | 50.02% | |||
| GBP/JPY | 149.087 | 149.117 | 0.02% | GBP/JPY | 48.63% | 51.37% | |||