pound upward; their progress is slowed after UK

pound upward; their progress is slowed after UK

pound gained against the dollar positions the dollar as the general market confidence has increased, although their progress has been limited on news that industrial production in the UK fell in December for the first time since September 2012.

The GBP / USD rising 0.22% to 1.4503 was noted with respect to the level of 1.4461 around which is found before the publication of the data.
The British Institute of Statistics announced that industrial production fell 1.1% in December compared with a fall of 0.8% in November. Economists had expected a slight decline of 0.1%.
The huge drop was due largely to the fall of 4.6% of the oil and gas extraction, and down 4% from the mining sector.
The manufacturing output fell 0.2% after falling 0.3% in December. Economists had expected manufacturing production to rise by 0.1%.

pound upward; their progress is slowed after UK

 

 

pound upward; their progress is slowed after UK

pound upward; their progress is slowed after UK

 

On an annual basis, manufacturing output dropped 1.7%.
These data contributed to fears that the UK economy has lost steam towards the end of 2015.
However, the pound did not seem unperturbed as the gains in European equity markets boosted risk appetite.
The FTSE 100 in London rose more than 1% as European markets stopped their run of three consecutive days of losses; the banking sector is recovering after falling from earlier this week on concerns raised about the sector and the overall economy.
The values ​​have been badly affected due to the combination of concern about the slowdown in global growth, the widespread policy of negative interest rates and the continued fall in prices of raw materials.
The British currency gained positions against the euro, leaving the EUR / GBP 0.51% to the level of 0.7764.
The euro, underperforming, also lost positions against the dollar, backing the EUR / GBP down 0.36% to the level of 1.1252, after recording of up to three and a half weeks at 1.1338 on Tuesday.
Meanwhile, the dollar moved away from 15-month lows against the yen, considered a safe haven, reaching the USD / JPY at 115.00.
The dollar index, which tracks the evolution of this currency against a basket of six other major currencies, rose 0.21% to 96.24, moving away from the minimum three and a half weeks recorded on Tuesday at 95.68.
Investors were awaiting the statements of President d Fed Yellen Yellen, planned for the course of the day, expecting shed clarity on future rises in interest following the release of some mixed economic reports from the United States.

More information press clik here:

One Response

Add a Comment