The Pound has stabilized. Overview for 08.06.2016
08.06.2016
The GBP/USD pair stopped growing as fast as yesterday since investors prefer to save their strengths before televised debates.
On Wednesday afternoon, the British Pound is trading rather smoothly against the US Dollar. The current quote for the instrument is 1.4536. Tuesday’s high was 1.4658, but it’s still very far from the last month’s highs.
Tomorrow, on Thursday, the United Kingdom will watch televised debates featuring the Prime Minister of the country, David Cameron, and Nigel Farage, the leader of the United Kingdom Independence Party. The politicians may be considered as true antagonists when it comes to the brexit topic, that’s why these debates are expected to be very “lively and unconventional”. The GBP/USD pair is unlikely to be very active until the debates.
According to the statistics published today, the industrial production in the UK in April increased more than it was predicted. The indicator added 2% m/m against 0.3% m/m in March. On a year-on-year basis, the indicator increased by 1.6% against the predicted number of 0.4% and decrease of 0.2% the month before. The last time the industrial production increased that much was in October 2015.
The components of the report show that the most positive sector is processing industry as it added 2.3% in April against 0.1% the month before. Production output increased by 0.8% and this is the first time the indicator in positive over the last 11 months.
The British Pound responded to the statistics very calmly, although at another point of time such positive data would make it grow fast. The market’s attention is engrossed by brexit, trading participants find everything else irrelevant so far.
RoboForex Analytical Department
On Wednesday afternoon, the British Pound is trading rather smoothly against the US Dollar. The current quote for the instrument is 1.4536. Tuesday’s high was 1.4658, but it’s still very far from the last month’s highs.
Tomorrow, on Thursday, the United Kingdom will watch televised debates featuring the Prime Minister of the country, David Cameron, and Nigel Farage, the leader of the United Kingdom Independence Party. The politicians may be considered as true antagonists when it comes to the brexit topic, that’s why these debates are expected to be very “lively and unconventional”. The GBP/USD pair is unlikely to be very active until the debates.
According to the statistics published today, the industrial production in the UK in April increased more than it was predicted. The indicator added 2% m/m against 0.3% m/m in March. On a year-on-year basis, the indicator increased by 1.6% against the predicted number of 0.4% and decrease of 0.2% the month before. The last time the industrial production increased that much was in October 2015.
The components of the report show that the most positive sector is processing industry as it added 2.3% in April against 0.1% the month before. Production output increased by 0.8% and this is the first time the indicator in positive over the last 11 months.
The British Pound responded to the statistics very calmly, although at another point of time such positive data would make it grow fast. The market’s attention is engrossed by brexit, trading participants find everything else irrelevant so far.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.