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UK Manufacturing Production posts better than expected

  • USD - Unemployment Claims 239K
  • CHF - SNB Chairman Jordan Speaks
  • EUR- EU Economic Forecasts

The US finished the day yesterday releasing their high tier Unemployment Claims figure, which posted worse than expected with 239,000 claims. In spite of this, the Dollar remained stable. 

  • AUD - RBA Monetary Policy Statement
  • GBP - Manufacturing Production m/m
  • GBP - Goods Trade Balance

This morning saw the UK release their only high tier data contribution this week. UK Manufacturing Production posted better than the expected 0.3%, and posted 0.7%. Ongoing Brexit talks and trade concerns have been at the forefront this week. The positive Manufacturing Production figure can be seen as a small but positive win for the UK. The posting caused Sterling to get a small boost across major peers.

According to EU Chief Negotiator, Michel Barnier, the UK and Eurozone have achieved no significant breakthroughs this week. The aim of having agreed significant parts of the deal by December still stand. Next week should provide clarity as to whether Theresa May will be reshuffling her cabinet, due to two recent departures.