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GBP/USD Daily Forecast – 11 January

Thursday, Jan 11 2018
GBP/USD Daily Forecast – 11 January

Yesterday's session brought UK Industrial Production figures were published. Total production output increased by 3.3% for the three months to November 2017 compared with the same three months to November 2016, with manufacturing providing the largest upward contribution, increasing by 3.9%; within this sector, transport equipment provided the largest upward contribution, increasing by 6.7%. In November 2017, total production was estimated to have increased by 0.4% compared with October 2017; energy supply provided the largest contribution, increasing by 3.2%, due mainly to the temperature being warmer than average in October 2017 and colder than average in November 2017.

In the US session import and export prices data was released. Import prices rose 0.1 percent in December following 0.8-percent advances in 2 of the previous 3 months. The index has not recorded a monthly decline since falling 0.2 percent in July. Prices for U.S imports increased 3.0 percent in 2017, after advancing 1.9 percent the previous year. The advance in 2017 was the largest calendar-year increase since import prices rose 8.5 percent in 2011. Prices for U.S. exports fell 0.1 percent in December, the first monthly decline for the index since a 0.1-percent decrease in June.

 

There will be no major data releases from the UK tomorrow. In the US session Unemployment Claims and PPI figures were released. Analysts predict decline to 246,000 in Unemployment Claims and rise by 0.4% in PPI.

 

Figures to watch:

 

Unemployment Claims (Thursday 14:30)

PPI (Thursday 14:30)

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