The Pound is retreating. Overview for 10.01.2018


In the middle of the week, the GBP/USD pair is trading to the downside; investors didn’t like the statistics.

The British Pound continues falling against the USD on Wednesday. The current quote for the instrument is 1.3515.

The statistics published by the United Kingdom today was quite positive, but the Pound right now is more interested in what is happening to the USD. Recovery of the American currency puts all other catalysts on the back burner. The Pound showed a solid growth in December, but now the direction is changing.

The Industrial Production in the UK added 0.4% m/m in November, the same as expected.  The Manufacturing Production expanded by 0.4% m/m, which is better than 0.3% m/m, the previous and expected readings. The Construction Output recovered in November (+0.4% m/m) after plummeting in the previous month (-1.1% m/m). The reading is worse than expected, but considering the weak October number, it was quite okay.

Given that all indicators showed an average slow growth, the Pound barely responded to them. Instead of them, investors continue monitoring political speculations relating to possible substitutions and changes in the government by Theresa May.


RoboForex Analytical Department



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