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GBP/USD Daily Forecast - 10 December

Tuesday, Dec 09 2014

European part of session, yesterday, was marked by UK Industrial and Manufacturing Production figures. While analysts were predicting 0.2% growth, total production in October 2014 is estimated to have decreased by 0.1%  compared with September 2014. <b> Manufacturing was the only one of the four main components to fall, decreasing by 0.7%. Analysts were anticipating 0.3% increase. </b> In the three months to October 2014, production and manufacturing were 10.4% and 5.5% respectively below their figures reached in the pre-downturn GDP peak in Q1 2008.

 

In the US session JOLTS Job Openings data was released. There were 4.8 million job openings on the last business day of October, little changed from 4.7 million in September, but in line with market expectations.  The job openings rate was 3.3%. The number of job openings was little changed for total private and declined for government in  October, while it decreased for state and local government.

 

As for tomorrow, from the UK, Trade Balance figures will be released.Trade Balance deficit is expected to decrease to £9.5 billion. There will be no major data releases in the US part of the session.

 

Figures to watch:

 

Trade Balance (Wednesday 10:30)

Last modified on Tuesday, 09 December 2014
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