British currency

[milos]

Bank of England Governor Mark Carney welcomed the fall of unemployment rate in the UK to 7.6% in the third quarter. He will repeat that the target rate of 7% of the bank only limit to which the bank will consider raising interest rates.

Forex pair GBPUSD during the previous trades recorded a peak at 1.61930 and then consolidated at 1.61680. The currency pair is likely to find support at 1.6100 and resistance at 1.62400.

In relation to the franc and the yen the pound has weakened slightly. GBPCHF dropped to 1.47100 and GBPJPY fell to 163.97.

[milos]

The British economy is in line with expectations in the third quarter rose 0.8%, after rising 0.8% in the previous quarter.

On an annual basis the index increased 1.5% in the third quarter, after growing at a rate of 1.3% in the previous quarter.

Total business investment rose by 1.4% in the third quarter and expected to grow by 2.3%, after falling 2.7% in the previous quarter.

[milos]

The amount of new loans issued to consumers by the Bank of England fell in October to 1.7 billion pounds from 2.2 billion in the previous month, while analysts expect growth to 2.1 billion pounds.

National index of house prices in the UK rose in October by 0.6% after growth of 1% in the previous month, which was the same with the predictions of analysts.

British index of consumer confidence fell in October to minus 12 from minus 11 points in the previous month, while economists had expected growth to minus 10 points.

[milos]

Manufacturing PMI rose in the UK in November to 58.4 points from 56.5 which was in line with forecasts of economists.

[milos]

Index of the service sector in the UK fell in November to 60.0 points from 62.5 in October. Economist expected growth to 62.1 points.

[milos]

The trade deficit in the UK declined in October to 9.7 billion pounds from 10.1 billion in September. Economists had predicted a drop to 9.3 billion pounds.

Exports of goods in the EU member states was reduced by 0.5 billion pounds to 12.1 billion, while merchandise imports fell to 18.5 billion pounds.

Production in the UK rose in October to 0.4% in September after rising 1.2%. At the annual level is recorded growth rate of 2.7% in October, and forecast growth of 2.9%.

Industrial production rose 0.4% in October after rising 0.9% in September which was in line with forecasts of economists.

[RCox]

The British Pound has been one of my biggest problems in the last 4-5 weeks, but I am continuing to trade from the short side against the Dollar because the relative growth performances are not even close to favoring the GBP. We also have major rallies in the Pound so it is still a sell even from a technical perspective. We are getting into tricky territory in the GBP/USD however, and we will need to see some indications that the Fed will taper before we can expect any major runs lower.

[supertrader]

British pound is much weaker now than it was few days ago. Now is the moment to trade puts on GBP/USD pair based on this weakness every time we have new upside move on 30min graphs.

[milos]

Sterling fell against almost all currencies cons of having previously announced that the construction sector has achieved growth.

The Governor of the Bank of England Mark Carney said that the negative impact of the financial crisis has not yet disappeared. Carney added that the new regulatory framework must ensure the financial market collapse overcoming ailing banks.

[milos]

Expectations of industrial orders in the UK have improved in December, so the index rose to 12.0 points from 11.0 in November, while analysts expected to remain at 11.0 points.

Consumer price inflation in the UK slowed in November to the lowest level since November 2009 year to 2.1% from 2.2% in October , which was in line with analysts’ expectations.

Inflation in producer prices also fell in November, the fourth consecutive month, by 0.7% and predicted to decline by 0.5% , after falling 0.4% in October .