10 Feb 2015

UK Industrial Production Drops

Today’s industrial production data showed that activity in the UK for December dropped more than anticipated, compared with an unchanged reading in the previous month. Going forward, traders will remain focused on the NIESR’s GDP forecast scheduled later today to gauge the health of Britain’s economy for the three months ended January. Across the Atlantic, today’s NFIB survey is expected to show an improvement in small firms’ morale and affirm prospects of robust growth in the US economy. In the Euro zone, with no crucial macro updates, traders are likely to remain focused on tomorrow’s Finance Ministers’ meeting in the region, especially amid fears of Greece’s exit from the common currency bloc.