Again it appears that Italy, Greece and Europe are taking the headlines but we also need to remember that there are still key data releases due for the U.K this morning and this afternoon.
At 09:30am we see Industrial and Manufacturing data, last time around this was particuarly poor so should this be getting any worse then it could start a turn around for the Pound, however a slightly better release may well push us on that little bit higher. Later on today we see the NIESR (National Institute of Social and Economic Research) release their GDP predictions. The NIESR are a well respected think tank within the U.K and their opinion can drive the markets should it be different than predicted. Expected is for them to echo the last release and come out with 0.5% however from memory I feel seem to note they have revised their predictions down a few times this year… This and indeed poor manufacturing data could come in from the blindside for those waiting on more Euro doom and gloom today and knock the Pound back a peg or two.
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