WorldWideMarkets Community

Forex Trading, Market News & Technical Analysis

Sterling edged lower to 1.5540. U.K. Manufacturing Data slightly up.

Posted by Chris Advincula on Jun 11, 2013 7:23:00 AM

June 11 Tuesday 11:30 GMT

LONDON - Cable fell 58 points to 1.5532 from 1.559 against the dollar in Europe from the pressure of Euro-Sterling buying. The euro rose 40 points against the pound to 0.8550 from 0.8510 which erased the small gains of the pound following the U.K. Industrial and Manufacturing data.

UK Data: UK April Industrial Production +0.1% m/m; -0.6% y/y

UK April Manufacturing Output -0.2% m/m; -0.5% y/y

UK April  +0.5% 3m/3m; -1.2% 3m y/y

UK April Industrial Production +0.8% 3m/3m; -1.5% 3m y/y

Industrial production inched higher in April, rising by a slightly higher-than-expected 0.1%, boosted by increased oil production as output from the Elgin North Sea field gathers pace. Production dropped 0.6% in the year to April, the 25th consecutive fall in year-on-year output.

The 21-day moving average fell from 1.5585 to 1.5545. The 60-day moving average fell from 1.5580 to 1.5555 against the dollar. 

 

Chris Advincula

WorldWideMarkets

 

cable.6.11 resized 600

 

euro.stg.6.11 resized 600

Charts: FXTrek.com

 

Tools & Educational Resources

Forex 101LEARN MORE >>
Learn the basics of Forex and how to practice trading the markets.

GlossaryLEARN MORE >>
Confused by the language? Click here and search for key trading terms.

FAQ CenterLEARN MORE >>
Browse our frequently asked questions and find your answers right away.

VideosLEARN MORE >>
Access to the educational lessons, webinars and platform walkthroughs.

READY TO TRY THE MARKETS?

Get started with a FREE $10,000 Demo Account and experience the Forex Market RISK FREE!