GBP/USD Daily Forecast – 11 October

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Tuesday, Oct 10 2017

GBP/USD Daily Forecast – 11 October

Yesterday's session was marked by UK Industrial Production figures. In the three months to August 2017, the Index of Production was estimated to have increased by 0.9%; all four main sectors increased with the largest contribution from manufacturing. The largest contribution to the rise in manufacturing in the three months to August 2017 came from other manufacturing and repair, which rose by 3.8%; this sub-sector includes a wide range of high-value milestone-based contracts for repair and maintenance, such as for aircraft, ships and boats.

In August 2017, total production was estimated to have increased by 0.2% compared with July 2017, due mainly to a rise of 0.4% in manufacturing. Total production output for August 2017 compared with August 2016 increased by 1.6%, with manufacturing providing the largest upward contribution, increasing by 2.8%; mining and quarrying partially offset this rise, decreasing by 6.0%.

There will be no major data releases from the UK tomorrow. In the US session FOMC Meeting Minutes will be published.

Figures to watch:

FOMC Meeting Minutes (Wednesday 20:00)

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