| BRC Retail Sales Monitor y/y |
1.9% |
2.7% |
|
| RICS House Price Balance |
-1% |
-5% |
-7% |
| Manufacturing Production m/m |
0.8% |
0.4% |
-1.9% |
| Trade Balance |
-9.4B |
-8.7B |
-8.2B |
| Industrial Production m/m |
1.0% |
0.4% |
-1.3% |
| 10-y Bond Auction |
1.73|1.7 |
2.15|2.3 |
|
| NIESR GDP Estimate |
0.1% |
0.1% |
|
Overall it was a pretty good week for the British economy. The Manufacturing Production beat estimates with 0.4%, Industrial Production got to 1.0% and the RICS House Price Balance rose to -1%. Though many of this week’s readings were good, the Trade Balance surprisingly dropped to -9.4B.
Next week we are waiting for the inflation report, Claimant Count Change, the MPC Meeting Minutes and the Retail Sales.
GBPUSD gained 0.23% in the past week. The price has retested the 1.5252 as expected and went back up to 1.5374 resistance. Even though it didn’t close decisively over the resistance, the pressure is still on the upside. A true break might open the way for testing 1.5630.
Wrap Up 8-12 April GBPUSD up 0.23% by Razvan Mihai
