UK Manufacturing Production jumps by 2.1% MoM in March vs. 1.0% expected

Dhwani Mehta FXStreet

The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Wednesday, suggesting that Britain’s industrial sector is well on the recovery path after a covid lockdown-induced hit.

Manufacturing output arrived at 2.1% MoM in March versus 1.0% expectations and 1.5% booked in February while total industrial output came in at 1.8% vs. 1.0% expected and 1.0% last.

On an annualized basis, the UK manufacturing production figures came in at 4.8% in March, beating expectations of 3.7%. Total industrial output rebounded by 3.6% in March, against a 2.9% reading expected and the previous -3.5% print.

Separately, the UK goods trade balance numbers were published, which arrived at GBP-11.71 billion in March versus GBP-14.40 billion expectations and GBP-16.442 billion last. Total trade balance (non-EU) came in at GBP-6.548 billion in March versus GBP-15.407 billion expected.

Related reads

UK Preliminary GDP beats estimates with -1.5% QoQ in Q1, GBP/USD unimpressed

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

GBP/USD sticks to red near 1.3650, eyes on Iran sanctions

GBP/USD trades with a negative bias around mid-1.3600s at the start of a new week on Monday. The US Dollar recovers ground due to uncertainty over potential US economic sanctions on Iran, leaving the risk-sensitive British Pound on the backfoot.

EUR/USD stays defensive below 1.1700 amid cautious markets

EUR/USD is trading defensively below 1.1700 in Monday's European trading. The pair struggles as the US Dollar attempts a tepid recovery following last week's US Treasury bond buyback plan-led sell-off. Markets remain unnerved amid US threats to impose economic sanctions on Iran, the details of which are expected to be announced later in the day.

Gold sits at three-month highs near $4,650

Gold is sitting close to its highest level in three months, near $4,650, in the European session on Monday. The precious metal capitalizes on persistent US Dollar weakness, following the US Treasury's buyback plan amid fresh US-Canada trade tensions. Traders await Iran sanction details for further impetus.

Here's what I learned trading meme coins

I’ve been trading cryptocurrencies for the past seven years, with meme coins becoming one of the most exciting and implacable parts of my experience. I love them because they represent internet culture and community sentiment, and, let’s be honest, extreme speculation. Newly launched meme coins were especially tempting: get in early enough, I thought, and a small bet could turn into a huge return.

The week ahead: Jackson Hole and Nvidia results to take focus away from Trump

We start the week with the focus squarely on the US. Rising Treasury yields, the Jackson Hole Symposium, inflation and GDP data, along with tariff risks, will dominate market action in the coming days.

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.