UK: CBI Manufacturing Order Book Balance rises to highest level since April 2019 at -5

UK CBI Manufacturing Order Book Balance climbed to best level in nearly two years.
GBP/USD pair continues to trade deep in the negative territory around 1.3770.

Eren Sengezer FXStreet

The data from the UK showed on Friday that the CBI's Manufacturing Order Book Balance improved sharply to its highest level since April 2019 at -5 in March from -24 in February. This reading beat the market expectation of -20 by a wide margin.

Further details of the publication revealed that the Manufacturing Output Expectations Balance jumped to its strongest level since August 2017 at 30 from -2 in February.

Market reaction

These strong figures don't seem to be helping the British pound find demand. As of writing, the GBP/USD pair was down 0.67% on a daily basis at 1.3769.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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