CBI Industrial Orders Expectations survey showed decline to -18%

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Monday, Oct 26 2015

Latest CBI Industrial Orders Expectations survey showed balance of -18% in October. Analysts were predicting balance of -8%. Manufacturers have been struggling with weak export demand for several months, because of the strength of the pound and subdued global growth. But now they’re also facing pressure back home as domestic demand is easing.

Earlier today, BBA Mortgage Approvals data showed decline to 44,500, missing forecasts on smaller decrease to 46,200. However, the number of mortgage approvals in September was 24% higher than a year ago, with remortgaging up 40% and house purchase up 14%. First-time buyers continue to find good deals available while existing borrowers are switching to lower fixed rates to control their mortgage costs.

Sterling is currently being trade around 1.5330 handle. Pair is likely to find support around 1.53 level and resistance above 1.5370 area. There will be no major data releases later in the session. Later today, in the US session, New Home Sales figures are scheduled for a release.

More in this category: « German business confidence fell for the first time in four months New Home Sales down by 11.5% »

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