Article Highlights

  • U.K. manufacturing production as expected at 0.4%
  • U.K. trade balance weaker than projected, previous figure revised lower
  • Mixed industrial production data from euro zone
  • Medium-tier U.S. data (JOLTS job openings, NIESR GDP estimate, wholesale inventories) coming up
Partner Center Find a Broker

The British pound showed signs of weakness in today’s London trading session when U.K. trade balance came up short of expectations while manufacturing production simply came in line with consensus. The trade deficit stood at 9.7 billion GBP, wider than the estimate of 9.3 billion GBP for October, while the previous month’s shortfall was revised from 9.8 billion GBP to 10.1 billion GBP.

Meanwhile, data from the euro zone was mixed, with the French industrial production report showing a 0.2% decline instead of the estimated 0.2% uptick and the Italian industrial production figure beating the consensus of a 0.3% increase.

Up ahead, only medium-tier reports are lined up from the U.S. and these might not have such a huge impact on dollar pairs. Still, it would help to take note of the actual results to be able to project how top-tier data could turn out later on.

See also:

Asian Session Recap

US Session Recap

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!