020 7898 0500As the market waited with baited breath for the US to finally go to the polls, the UK’s manufacturing figures were released. In line with the weaker sterling we saw manufacturing continue to pick up as overseas orders continued their steady flow backed by highly competitive export prices. Output from manufacturers rose by 0.6% last month, up from 0.2% in August with a big increase from pharmaceuticals.
Looking to the day ahead, the spill over effect of the latest surprise election result will continue to filter through to the market, resulting in increased volatility.
In terms of UK data, we have the goods trade balance due today, while Monetary Policy Committee (MPC) Member Haldane is due to speak at the book launch for ‘How the World REALLY Works: Savings, Investments, & Pensions’. If he was to drop any subtle clues with regards to Bank of England (BoE) policy, sterling could move as a result. His book is quite apt given that the UK Chancellor’s Autumn Statement” is due on 23rd November.
