After having a very volatile Tuesday, GBPUSD is ready to move on.
The British Pound is pretty stable against the USD on Wednesday morning after a nervous trading session the day before. The current quote for the instrument is 1.2560.
The statistics published by the United Kingdom were rather mixed. The Industrial Production added 6.0% m/m in May after losing 20.2% m/m in the previous month and against the expected reading of +6.2% m/m. The Construction Output improved by 8.2% m/m after dropping 40.2% m/m. The Manufacturing Production, in its turn, showed +8.4% m/m after being -24.4% m/m in April.
However, the British GDP added only 1.8% m/m in May after losing 20.3% the month before. The expected recovery was +5.5% m/m but the British economy wasn’t strong enough to deliver.
Wednesday is promising to be just as busy for the Pound.
For example, one should pay attention to the CPI, which is expected to add 0.4% y/y in June, which is no very good. Also, market players will be offered the PPI Input and Output, the RPI, and the HPI. At the moment, the Pound is very sensitive to such data.
The thing that can help the British Pound reach stability is investors’ global attitude to risks.
Orgin: RoboForex
