About 10:30 markets got to know ONS data on British industrial production. According to the report industrial production index MoM was similar to the one in August and was on level of -0.4% (while markets expected value of 0.0%).
Mixed data from the UK
As for the (YoY) here also industrial production failed. 0.3% compared to the expected 0.8% and 0.7% previously certainly is not a preferred result. Better presented was, however, manufacturing index – here in terms of MoM index increased to 0.6% (forecast 0.4%) and in the YoY to 0.2% (forecast -0.1%).
GBP/USD gently up
Immediately after the publication of the data, the pound sterling appreciated by around 10 pips, constantly moving in and around session highs. To the closure of the weekend gap, still a lot missing, in addition increases so far, are not able to overcome the peaks of the second half of the Monday session.