A surprise jump in UK manufacturing and industrial production activity confirms the economy remains defiant in the face of forecasts for a slowdown in 2017.
Industrial and manufacturing data from the ONS out mid-week was incredibly poor.
The new week has not favoured Pound Sterling with the only bright spot appearing to be its ability to remain in touching distance of the Euro.
Any hopes for a recovery in Pound Sterling on Friday were dashed by underwhelming data on manufacturing and production from the ONS.
Sterling remains highly sensitive to risk sentiment associated with Brexit as we evidenced by the sharp declines witnessed through the opening days of October.
CBI monthly Industrial Trends Survey: Manufacturing output continues to expand at a solid rate.
Pound Sterling has turned lower as the recent rally is pared back from overbought conditions.
Industrial production Confounds expectations and experiences its biggest leap since 2012.
Another day, another disappointing set of economic data from the United Kingdom.
The pound has fallen against the euro but maintains recent strength elsewhere as the first data release of May is unequivocally negative.