Bugger off Brexit

Posted Friday, February 10, 2017 by
Skerdian Meta • 1 min read

As we mentioned in the previous update, it´s been a green morning for us so far today. The economic calendar looks quite green as well. 

The French payrolls grew by 0.4% in the fourth quarter of last year. It´s not a lot considering it´s a three month period, but it´s higher than expected. 

The surprises keep coming from across the channel though. The UK economy seems to have totally forgotten about Brexit, which is coming or is it? I have this feeling that many people in Britain don´t really believe that some day soon the UK will leave the EU. 

That´s one of the reasons for the pickup in the UK economy since the short-lived crash that followed the Brexit referendum. The other one is the improvement of the global economy. 

Today´s UK economic data showed yet another great month. Industrial production came out at 1.1% when it was expected to shrink by 0.2%, construction output grew by 1.8%, trade deficit narrowed a bit, while the manufacturing production jumped by 2.1%.

These are some really good numbers, but they won´t affect the Q4 GDP. GBP/USD made a small jump on these numbers, but the 50 SMA on the H1 forex chart placed a lid on that move so, no trade for us yet. 

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
0 0 vote
Article Rating
Notify of
Inline Feedbacks
View all comments