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The British Pound weakened against the Greenback, following the UK Manufacturing Production data release on Monday. The GBP/USD currency pair lost 37 pips, or 0.28%, to continue fluctuating in the 1.3365 area.
The Office for National Statistics released Manufacturing Production data that came out lower-than-expected of negative 1.4%, compared to the negative 0.1% in the previous period.
One of the main reasons for the negative data was that demand for electrical machinery and steel, falled raising concerns in economists about the strength of the UK's economy.
| Historical Data Table: GB Manufacturing Production m/m | Economic Calendar for 07.06.2018 | ||||||||
| Date | 09.02.2018 | 09.03.2018 | 11.04.2018 | 10.05.2018 | 11.06.2018 | 12:30 PM | US CPI m/m | ||
| Actual | 0.30% | 0.10% | -0.20% | -0.10% | -1.40% | 12:30 PM | US Core CPI m/m | ||
| Forecast | 0.30% | 0.20% | 0.20% | -0.20% | 0.30% | 10:45 PM | NZD FPI m/m | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 1.33964 | 1.33999 | 0.03% | GBP/USD | 62.51% | 37.49% | |||
| EUR/GBP | 0.88025 | 0.88003 | -0.02% | EUR/GBP | 28.63% | 71.37% | |||
| GBP/CAD | 1.74089 | 1.74126 | 0.02% | GBP/CAD | 69.15% | 30.85% | |||
| GBP/JPY | 147.704 | 147.698 | 0.00% | GBP/JPY | 31.15% | 68.85% | |||