UK Industrial and manufacturing figures softer than forecast (Mike Vaughan)

AUDGBP Makes Back Some Lost Ground From Last Week

UK Industrial and manufacturing figures this morning were slightly softer than expected and the pound is again positing losses against the Australian Dollar. Later today we will see the UK’s NIESR GDP forecasts, something that can have an impact on GBP exchange rates. The NIESR (National Institute for Economic and Social Research) are a well respected think tank and their figures are often close to the official published data. They are forecasting 0.8%, any deviation from this and the pound is likely to react accordingly.

Looking at data for the AUD, later today will see Westpac release consumer confidence figures and on Thursday look out for employment change.  Also worth keeping an eye on Chinese Industrial production data and retails sales figures early Thursday.

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