Daily Economic Calendar – Its all About the UK today

To begin the economic agenda for the day, we have the Manufacturing production data from the UK during the London session which is expected to come in at 0.6%. This is expected to show a big recovery from the 0.9% drop that was seen in the last month. We also have the goods trade balance and the industrial production data being released from the UK and all 3 pieces of data would be crucial for determining where the pound goes in the short term.

Later on in the day, we have the crude oil inventory data from the US during the NY session and this is expected to show a build of 0.9 million barrels against the 7 million barrel drop in the last month. The oil prices have suffered a hit over the last couple of days and a stronger build in the inventory could affect the oil prices negatively.