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Global macro overview for 08/12/2015

Global macro overview for 08/12/2015:

Another fundamental data set from the UK did not really help clear the overall picture. The industrial production figures were better than expected (0.0% vs. 0.1% exp), but manufacturing production was worse than expected (-0.4% vs. 0.0% exp.). Despite the fact that the overall economic growth is still advancing at a solid pace, the manufacturing sector is facing stronger headwinds. Nevertheless, please notice that Markit's purchasing managers' index popped up to a 16-month high in October.

The GBP/USD pair has negatively reacted to the recent news release and is currently trading at the technical support level of 1.4957. The next support is found at the level of 1.4894 and next meaningful resistance is seen at the levels of 1.5000 and 1.5054.


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