The Pound has strengths to grow. Overview for 10.10.2018

On Wednesday afternoon, GBPUSD is trading upwards despite the statistics.

The British Pound is rising against the USD in the middle of the week. The current quote for the instrument is 1.3168.

The statistics published by the United Kingdom in the afternoon were rather weak. The Industrial Production added only 0.2% m/m in August after increasing by 0.4% m/m in July. The Manufacturing Production lost 0.2% m/m against the expected reading of +0.1% m/m. The Construction Output plummeted by 0.7% m/m after expanding by 0.5% m/m the month before and against the expected reading of -0.4% m/m.

At the same time, on YoY, both the Manufacturing Production and the Industrial Production expanded by 1.3%.

The GDP in the United Kingdom didn’t change in August, although it was expected to add 0.1% m/m.

According to today’s media, several representatives of the Labor Party (30 or 40 people) may support the Brexit. It would be very helpful for the UK Prime Minister Theresa May, who has already earned support of approximately 315 politicians from the British Parliament. About 40 of them may vote against the Brexit due to “circular firing squad” – politicians from the May’s party, who disagree to the Brexit scenario, and that might be even more serious problem for the Prime Minister than arguments with the European Union representatives.