UK manufacturing production preview: What to expect of GBPUSD……. Sell GBPUSD if Uk Production shrinks


UK manufacturing production preview: What to expect of GBPUSD

The UK industrial and manufacturing production data for the month of December are scheduled for release at 09.30 GMT in the Europeans sessions.


Industrial production to come in mixed for Dec
The manufacturing production, which makes up around 80% of total industrial production, is expected to decline to 0.5% on monthly basis in Dec, against a 2.1% growth seen in Nov. Meanwhile, the total industrial production is predicted to remain positive, although slow its pace of expansion dramatically to 0.2% m/m in Nov, as compared to a 2.1% increase recorded previously. The event may cause quite a stir in GBP markets, as the aforementioned data would be the first major economic release of this week. A better-than expected print could provide extra legs to the recovery in cable above 1.25 handle, while, GBP/USD could fall back towards 1.2420-00 band should the data come in much weaker-than expected.



Source is http://nigeria4u.com