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CBI Industrial Orders survey showed balance of +1%

Monday, Apr 27 2015
Few moments ago CBI published monthly figures for April, which showed that total order books for manufacturers (+1%) remained in line with normal levels (0%). However, analysts were predicting balance of +4%. Export orders were below par (-11%), but were above their long-run average (-20%). Katja Hall, CBI Deputy Director-General, said:“It’s encouraging that our manufacturers are seeing - and expect to see - continued growth, with rates of expansion still above average."
 
“Exports keep dragging at the heels of growth: firms are finding the recent rise in the Pound against the Euro challenging, making them less competitive in Europe, while the unravelling situation in Greece is creating uncertainty. Among the measures business wants in the first 100 days of a new government, an ambitious, long-term export strategy must be a central element to keep growth on course.”
 
Sterling is currently being traded few points above 1.5130 level. Pair is likely to find support around 1.5080 area and resistance above 1.5180 level. There will be no major data releases later today.
More in this category: « Eyes still on Greece, with no deal in sight Aussie ready to test 0.79 handle »

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