The Greenback strengthened against the British pound, following the UK Manufacturing Production data release. The GBP/USD currency pair lost 19 pips, or 0.14%, to continue fluctuating in the 1.3247 area.
The Office for National Statistics released monthly Production data that came out lower-than-expected of 0.4%, compare to forcasted 1.0%.
A chief UK economist at Pantheon Macroeconomics Samuel Tombs said: "The modest 0.4% increase in manufacturing output, following a cumulative 1.8% decline over the previous three months, was disappointingly weak, but surveys still are consistent with fairly healthy growth ahead. Overall, today's report should leave the MPC confident that quarter-on-quarter GDP growth likely will rise to 0.4% in Q2..."
| Historical Data Table: UK Manufacturing Production m/m | Economic Calendar for 10.07.2018 | ||||||||
| Date | 09.03.2018 | 11.04.2018 | 10.05.2018 | 11.06.2018 | 10.07.2018 | Tentative | UK NIESR GDP Estimate | ||
| Actual | 0.10% | -0.20% | -0.10% | -1.40% | 0.40% | 12:30 PM | Canadian Building Permits | ||
| Forecast | 0.20% | 0.20% | -0.20% | 0.30% | 1.00% | 11:50 PM | Japanese PPI y/y | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 1.3289 | 1.32491 | -0.30% | GBP/USD | 58.12% | 41.88% | |||
| EUR/GBP | 0.88335 | 0.88496 | 0.18% | EUR/GBP | 27.46% | 72.54% | |||
| GBP/CAD | 1.74396 | 1.74012 | -0.22% | GBP/CAD | 39.78% | 60.22% | |||
| GBP/JPY | 147.625 | 147.25 | -0.25% | GBP/JPY | 43.68% | 56.32% | |||