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UK Trade Balance deficit at £10.3 billion in January

The UK’s deficit on trade in goods and services was estimated to have been £3.5 billion in January 2016, a narrowing of £0.2 billion from December 2015. The narrowing is attributed to trade in goods where the deficit has narrowed from £10.5 billion in December 2015, to £10.3 billion in January 2016. This was in line with market forecasts. Read more...

GBP/USD Daily Forecast – 11 March

There were no data releases from the UK yesterday. This week, UK news has been unabashedly ‘Brexit’-focused, with controversial comments from the Bank of England’s Mark Carney and the International Monetary Fund’s Christine Lagarde displaying doubt towards the security of an EU-less Britain. Arguments about whether or not Britain is better off without the EU heat up as disputed claims that the Queen of England backs a ‘Brexit’ set news alight today and further damaged UK confidence. Read more...

GBP/USD Daily Forecast – 11 March

Sterling was pushed initially lower after ECB rate decision, but quickly rebounded and even broke above 1.43 handle, though it pulled back slightly by the end of the session. Tomorrow, we would pay attention to Trade Balance figures. Any type of supportive candles around 1.4250 level and 1.42 area, would be short-term buying signal, while resistive candles above 1.4350 and 1.4380 area in extension, would offer short-term buying opportunity.

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GBP/USD Daily Forecast – 10 March

From the UK, yesterday, Industrial Production data was published. Total production is estimated to have increased by 0.3% between December 2015 and January 2016. Analysts were expecting 0.6% increase. There were increases in 3 of the 4 main sectors, with manufacturing (the largest component of production), having the largest positive contribution, increasing by 0.7%.The largest contribution to the increase in manufacturing, between December 2015 and January 2016, came from other manufacturing & repair, which increased by 4.8%. This industry includes the manufacture of furniture, other manufacturing & repair and installation of machinery & equipment. Read more...

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