It seems like the rally of the greenback has ended. On Monday, the US dollar index was below $93.50. Tuesday’s attempts to recover are not successful. The index is below $93.40. No important economic data will be released today.
British manufacturing output soars more than anticipated in November
In November, manufacturing output in Great Britain rallied more than anticipated, driving optimism over the UK economy, as official data disclosed on Wednesday.
The UK Office for National Statistics told that in November manufacturing output soared 0.4% from the previous month versus hopes for a 0.3% soar and also following a 0.3% rally in October that was updated up from 0.1%.
On an annualized basis, manufacturing output tacked on 3.5% in November, surpassing estimates for a 2.8% leap and after soaring at a rate of 4.7% in October in an upward revision from a 3.9% jump.
The report also revealed that industrial output inched up by a seasonally updated 0.4% in November, which is in line with hopes and compared to a 0.2% soar, which was updated up from an initially intact outcome in the previous month.
Year-on-year, in November, industrial output soared by 2.5% versus an estimate for 1.8% jump and following the 4.3% ascend reported in October, was an upward update from an initial 3.6% rally.
This economic indicator is highly important for the Bank of England’s monetary policy because it is used as the central bank’s inflation target.
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