British pound is showing after the British data
2019-01-11 10:07 am | Resource: News | No Views : 127
Pound's performance varied after the release of UK industrial production data and November's GDP at 11:30 am on Friday, as the pound did not change slightly against the major currencies.
UK GDP growth accelerated to 0.3% in the quarter through November
UK GDP rose by 0.3% in November 2018 compared to the previous three months, according to monthly estimates released by the State Bureau of National Statistics on Friday.
"Growth in the UK economy continued to slow in the three months to November 2018, after stronger performance during mid-year, accounting and housing construction grew again but a number of other regions were slow. "The pharmaceutical industry is often weak," said National Accounts Chief Rob Kent Smith, commenting on today's figures.
Quarterly growth in the services sector was 0.3%. The construction sector was also a positive contributor, with a three-month steady growth of 2.1%. However, negative 0.8% growth in the production sector has pushed GDP down.
Industrial production in the UK fell by 0.4% in November
Industrial production in the UK fell 0.4% in November from a month earlier, the Office for National Statistics said in a report released on Friday. The main contributor to the decline in this figure was a 0.3% decline in manufacturing, while electricity and gas, as well as production, mining and quarrying fell by 1.1% and 1.3%, respectively.
The decline in industrial output was the result of a decline in eight out of 13 sub-sectors, with the largest decline coming from basic metals and metal products, which fell by 3.6%.
During the three months to November, total production fell by 0.8% compared to the three months to August, with all four major sectors falling for the first time since October 2012. Meanwhile, the annual figure was 0.9% lower, indicating the weakest growth since August 2013, and for the first time since October 2012, there was widespread weakness in all four sectors
Differential of the GBP after the data
The pound was trading at 137.82 against the yen, 1.2502 against the franc, 0.9052 against the euro and 1.2729 against the dollar at around 11:31 am.
Time frame Used - four hours The USD/JPY is moving in a bearish direction in the near term. The USD/JPY was able to take control of the USD/JPY movement after the US Federal Reserve's decision to fix the US interest rate as the USD/JPY broke down at 111.12 to hit at 110.35. In view of the technical indicators Both the RSI and the Stochastic are indicating the arrival of indicators…
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