United Kingdom Industrial Production - MoM
|Latest Release:||09-12-2014 09:30:00|
|Next Release:||09-10-2013 08:30:00|
|Source:||Office for National Statistics|
The euro was under pressure on Tuesday, setting a fresh 14-month low against the US dollar before consolidating above 1.29 US, as a dearth of economic data kept investors speculating about monetary policy.
The euro-to-dollar exchange rate fell to an intraday low of 1.2860. The pair would subsequently consolidate at 1.2917, advancing 0.16 percent. Initial support is likely found at 1.2864. On the upside, resistance is ascending ta 1.2943.
The dollar was supported on Monday after the Federal Reserve Bank of San Francisco said investors may be underestimating how quickly interest rates will rise.
âAn ongoing concern has been that the public might misconstrue the Fedâs forward guidance about future monetary policy and underappreciate the extent to which short-term interest rates may vary with future news about the economy,â said San Francisco Fed researchers Jens H.E. Christensen and Simon Kwan.
âEvidence based on surveys, market expectations, and model estimates show that the public seems to expect a more accommodative policy than Federal Open Market Committee participants. The public also may be less uncertain about these forecasts than policymakers.â
The central bank, eager to unwind its record bond buying program in October, is considering raising interest rates sooner than initially forecast. Earlier this year Fed Chair Janet Yellen said the first rate hike could materialize six months after the end of quantitative easing. Although she later retracted her comments, the latest batches of economic data reinforce the view the central bank could...
Business » UK Economy said to have Expanded 0.6% between...Posted Sep 9th, 2014 at 06:37 PM
The UK economy grew at a steady rate in three months through August, as output continued to moderate after regaining its pre-recession peak in the first half of the year. UK gross domestic...
Analysis and Opinion » Sterling Bounces After Solid Production and...Posted Sep 9th, 2014 at 10:54 AM
Sterling hit a fresh 8-month low but then proceeded to bounce after the UK reported better than expected industrial production. The market seems pre-occupied with the potential for a Yes vote in...
Forex » Further Weakness In UK ManufacturingPosted Aug 6th, 2014 at 08:34 AM
The National Statistics Office has just published a broad update for the UKâs industrial and manufacturing sector. The headline Manufacturing Production number has just been released for June, this...
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