Forex Signals Brexit News GBP moves up

forex-signals-UK-data_body_GBPUSD

Forex Signals Brexit News GBP moves up

Forex Signals Brexit News GBP moves up

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– UK industrial produce and FX trade figures belied the assertions of those vs the UK leaving EU that the UK economy would crumble Brexit move.

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– Across the UK, concerns persist about Marine Le Pen winning the upcoming French election.

– See the LIVE FOREX NEWS impacting FX markets is scheduled for the week. Great UK economic data on industrial produce, manufacturing output and FX trade. Released highlighted the strength of the British economy in the start of the vote in a national referendum of UK leaving the European Union – giving the GBP British Pound a boost.

Industrial production levels, including manufacturing output in December 2016 went up by more than expected every quarter.

Chart: GBPUSD One-Minute Timeframe (February 10, 2017)

Forex Signals Brexit News

November figures were revised to show better Forex numbers than previously noted. Office for National Statistics, were that the improvement in the trade figures was due largely to exports of erratic items.

Live Forex News

Despite the stronger-than-expected figures for December, the ONS said it was not revising its preliminary estimate that the UK economy grew by 0.5% in the fourth quarter of last year. However, the risks are now firmly to the upside. Forex Signals Brexit News GBP moves up

Concern in the Forex markets about the policies of Marine Le Pen, the right wing National Front candidate in this year’s French Presidential elections. Polls suggest that she would win the first round but lose in the second.

Fx Signals

If Le Pen is elected, France could therefore follow the UK example, leave the EU, which would probably mean the end of monetary union. Moreover, Forex Signals Brexit News GBP moves up.

Forex Signals Markets

Index / Exchange RateChange (Exchange Hours/GMT Session Rollover)Market Close/Last
FTSE 100+0.29%7,249
DAX+0.14%11,658
GBP/USD-0.05%1.2494
EUR/USD-0.17%1.0642
EUR/GBP-0.09%0.8519

UpcomingUK/EUEvent Risk

 

EventsDate, Time (GMT)ForecastPrevious
Germany Wholesale Price Index (MoM) (Jan)Feb 13, N/A1.3%
Germany Wholesale Price Index (YoY) (Jan)Feb 13, N/A2.9%
European Commission Economic ForecastsFeb 13, N/A

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