What happened? On Monday, February 21, Russian President Vladimir Putin signed decrees recognizing the sovereignty of the Donetsk and Lugansk People's Republics…
UK Manufacturing Production
Manufacturing production is a leading indicator of Britain’s economic health. It makes up 80% of the country’s total industrial production. As a result, this release has a great impact on the pound’s exchange rate. Production is correlated with employment and earnings. Moreover, the indicator quickly reacts to ups and downs of the business cycle.
The UK economy suffered a lot because of the Brexit deal so every piece of economic statistics is very important. If manufacturing production turns out to be better than expected, the pound will get support. Otherwise, the data will signal further weakness of the UK economy, and the British pound will decline.
• If the data is greater than the forecast, the British pound will appreciate.
• If the data is weaker than the forecast, the British pound will go down.
The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
The Bank of England will announce its policy statement on December 16, Thursday, at 14:00 GMT+2 (MetaTrader time). It will affect all the pairs with the British pound.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.