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UK industrial output data mixed – GBP/USD looks to the

There is a world outside the US  presidential elections, with important data coming out of the UK. Industrial output is down 0.4% month over month, worse than 0% expected.. Year over year,  production is up 0.3% instead of 0.8% expected. However, manufacturing  production is up 0.6% m/m, better than 0.4% predicted and 0.2% y/y, also above a drop of 0.1% that was on the cards.

The data is for the month of September and the figures impact the revised Q3 GDP, which came out better than expected.

GBP/USD traded around 1.2427, slightly  recovering from the elections-related blow seen yesterday. Cable remains mostly  unchanged after the data came out.

GBP/USD went up with Trump and down with Clinton, but its behavior could change on election night.

More:

gbpusd-technical-chart-november-8-2016

And the video:

 

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.