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Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Pound is slowly growing. Overview for 09.03.2016
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The Pound is slowly growing. Overview for 09.03.2016

On Wednesday afternoon, the GBP/USD pair is slowly strengthening because of the quite good statistics coming from the United Kingdom.

In the middle of the week, British Pound Sterling is moderately growing. The current quote in the GBP/USD pair is 1.4222. The instrument has moved quite far away from the February’s “bottom”.

Today’s statistics indicated that in January the industrial production in the Foggy Albion increased by 0.3% m/m, for the first time in three months, after December’s decline by 1.1%. However, the forecast was that the number would increase by 0.5 m/m, but the compensation of the previous decline turned out to be weaker. On a year-on-year basis, the January’s output of the industrial production rose by 0.2% against the December’s number of -0.1%.

The numbers of the report indicate that there is a strong impulse in the manufacturing sector. The indicator has increased by 0.7% m/m against the predicted number of 0.2%.

So, after a fast decline in the industrial production winter, now it’s slowly recovering. To be more exact, right now it looks like a rebound and a correction, and we need more additional data to perform more precise analysis. Let’s wait for the numbers of February and March. However, taking into account home demand, we can assume that the numbers of at least industrial production in February will be positive as well.
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